Laos’s inflation continues to rise in January, hits 23-year record
The inflation rate in Laos surged to 40.3% in January, a record high in the last 23 years, according to the Statistics Bureau under the Lao Ministry of Planning and Investment.
A vendor counts banknotes at a market in Vientiane, Laos, on January 9, 2023. (Photo Xinhua/VNA)
Vientiane (VNA) – The inflation rate in Laos surged to 40.3% in January, a record high in the lasꦰt 23 years, according to the Statistics Bureau under the Lao Ministry of Planning and Investment.
According to the agency, the depreciation of the Lao currency kip against USD and Thai baht and the soaring prices of fuel, gas, and other imported goods are among the main factors driving inflation. High fuel prices have pushed up production costs in the country because it has to import machinery, animal feed, and fertilisers at increasingly high prices. Laos’s consumer price index has spiked unexpectedly since the beginning of last year. Inflation in May 2022 was recorded at 12.81% before rising to 23.61% in June, 25.62% in July, 30.01% in August, 34.05% in September, 36.75% in October, 38.46% in November and 39.27% in December. Overall, Laos's average inflation in 2022 is up to 23%, up sharply from 3.8% in 2021. In response to the hiked inflation, the Lao government has issued many policies to control the devaluation of its currency, including raising interest rates and using foreign exchange reserves to import essential commodities, and strict control of the exchange rate. The Lao Statistics Bureau forecasts that the country's inflation rate will remain at double-digit levels in the first and second quarters of 2023. However, the Government's measures to control the prices of products and services may soon generate positive results, curbing the inflation rate at the end of the year. Previously, the Lao government pledged to ensure the country's economic growth rate at least of 4.5% and reduce the inflation rate to 9% in 2023./.
The Asian Development Bank (ADB) has forecast that the inflation in the Lao People’s Democratic Republic (Lao PDR) will average 23% in 2022 before falling to 10% in 2023.
Visiting Prime Minister Pham Minh Chinh and his Lao counterpart Sonexay Siphandone co-chaired the two countries’ investment cooperation conference in Vientiane on January 12.
Laos expects to serve 1.4 million domestic and foreign tourists this year with revenue from the tourism sector expected to reach more than 340 million USD, according to the Ministry of Information, Culture, and Tourism.
Themed “emerging trends in terrorism and violent extremism”, the event drew over 200 participants from domestic and international agencies, discussing the rapid evolution of terrorism and the need for stronger regional and global cooperation.
Indonesia aims to start nuclear power generation by 2034, with a government roadmap already in place to develop small modular reactors (SMRs) with capacities ranging from 300 to 500 megawatts.
The package, endorsed on June 24, comprises 481 projects designed to boost GDP by an additional 0.4% and generate temporary employment for about 7.4 million people nationwide.
An Indonesian official emphasised that energy security is extremely essential amid global geopolitical and economic fragmentation, highlighting the need for the energy industry to strengthen resilience and responsiveness in the face of fluctuating oil prices and the shift to clean energy.
ASEAN must deepen collaboration through platforms such as the ASEAN Senior Officials Meeting on Transnational Crime (SOMTC) to ensure regional responses keep pace with the rapidly evolving cyber threat landscape.
Speaking at the launch of the Indonesia Economic Prospects June 2025 edition on June 23 in Jakarta, Turk noted that Indonesia’s gross domestic product (GDP) expanded 4.9% in the first quarter of 2025 compared to the same period last year.
Anti-dumping duties will continue to be imposed on producers from China and Japan while those on relevant exporters from the RoK and Vietnam will be terminated, starting from June 23.
A specialist police unit has acquired a fleet of off-road vehicles to help officers navigate rough, unpaved terrain – and flood waters – to respond more quickly to public security incidents.
The pact covers goods, services, investments, intellectual property rights, customs facilitation, competition policy, sanitary and phytosanitary, trade and sustainable development, government procurement and economic cooperation.
The talent programmes mark another milestone in the technical partnership between PETRONAS and the Energy Institute, which focuses on three pillars: promoting decarbonisation and operational excellence through innovative solutions, enabling informed decision-making with expert advice, and nurturing the next generation of energy professionals.
The firefighters found an active blaze at the lorry depot located in the city of Pasir Gudang near the state capital of Johor Bahru, with flames spreading quickly due to strong winds and igniting a neighboring disused oil storage area.
Investigators believe the operation is part of a broader scam network involving romance scams, where victims are lured into fake relationships and persuaded to transfer money.
Ambassadors, Consuls General, along with staff and their families, joined traditional sports and cultural activities of Southeast Asia and performances bearing regional identity, thus contributing to strengthening unity and the ASEAN community spirit in New York.
In his post on social media the same day, Hun Manet said energy companies would be able to import sufficiently from other sources to meet domestic fuel and gas demands in the country.
The forum, which involves global experts and creative leaders from across 14 cultural sectors, aims to expand Thailand’s presence on the world stage through innovation and cultural exchange.
A vendor counts banknotes at a market in Vientiane, Laos, on January 9, 2023. (Photo Xinhua/VNA) 
