Spiralling inflation in Laos causing increasing hardship

The cost of food and other consumer goods continue to rise in Laos. - VT

VIENTIANE (Vientiane Times/Asia News Network): The Asian Development Bank has predicted that the annual average rate of inflation in Laos will jump to 5.8 per cent in 2022 and 5.0 percent in 2023.

Inflation will be driven by higher oil prices, rising domestic demand, and the continuing depreciation of the kip, according to the ADB’s Asian Development Outlook (ADO) 2022.