Annual Inflation in Laos Exceeds 30 Percent in August
Inflation in the Southeast Asian nation of Laos spiked to 30.1 percent on an annual basis last month according to the Lao Statistics Bureau.
August inflation was roughly five percentage points higher than the 25.6 percent inflation rate posted in July. In August 2021, inflation was only at 3.81 percent. As such, the August 2022 inflation numbers are close to eight times what it was a year back. The cost of gas, electricity, water, and housing rose by 20.5 percent. Food and non-alcoholic beverages saw a 30.2 percent increase.
The price of rice rose by 35.2 percent, fish and seafood by 26.7 percent, and meat by 22.3 percent. Fruit prices jumped by 31.1 percent, cooking oil by 121.8 percent, and seasoning by 47.6 percent. Eggs, which were available for 40,000 Laotian kip ($2.56) per box in April, are now priced at 55,000 kip ($3.52) or above, according to Vientiane Times….