The Magazine for Asian Investors
According to the Lao Bureau of Statistics, inflation was 30.1% year-on-year in August, up from 25.6% in July. This was mainly due to higher prices for fuels and consumer goods.
Prices for food and non-alcoholic beverages, including everyday goods such as rice, flour, meat, fats, vegetable oils, fruits and vegetables, increased by 30.2% year-on-year. Spending in communications and transportation increased by 51.7%, while housing, water, electricity and gas costs rose by 20.5%.
The Lao government has reiterated its determination to take proactive measures to address the country’s economic problems. At the end of August, several agencies were instructed to strengthen their measures to address issues ranging from macroeconomic fragility to improving the investment climate, and debt repayment.