Laos annual average inflation rate was 23 percent in 2022, jumping from 3.8 percent in 2021, according to a report issued by the Lao Statistics Bureau on Thursday. The soaring price of fuel, gas and other imported goods, compounded with the depreciation of the kip, the Lao currency, is among the ma ..
The value of the Lao currency, the kip, dropped by 37.4% against the US dollar and 32.9% against the Thai baht in the official market from January to August, according to an updated report of the Asian Development Bank (ADB).
The inflation rate in Laos hit 23.6 percent year-on-year in June, the highest recorded since May 2000, with a surge in the prices of energy and consumer goods. The soaring price of fuel, gas and other imported goods, compounded with the depreciation of the Lao currency kip, are among the main factor ..
The Lao Government will make efforts to stabilise the economy, finance and currency in order to prevent a crisis, Prime Minister Phankham Viphavanh said at the opening of the 9th National Assembly’s third session on June 13.