World

Laos’ inflation posts two-digit growth

Laos’ inflation increased to a record of 12.8 percent in May against the same period last year, according to the latest statistics from the Lao Statistics Bureau.
Laos’ inflation posts two-digit growth ảnh 1Illustrative image (Source: Laoedaily)
Vientiane (VNA) – Laos’ inflation increased to arecord of 12.8 percent in May against the same period last year, according tothe latest statistics from the Lao Statistics Bureau.

The increase was attributed to the conflict between Russia andUkraine that has led to a worldwide shortage of crude oil supply, pushing upglobal oil prices.

The agency said the country had to increase fuel pricestwice in May. Therefore, the oil price in May went up by 92.6 percentyear-on-year. In addition, the continued devaluation of the local currency kip madethe price of imported goods increase sharply.

These factors caused higher costs of production and living, hencean increase in prices of all commodities.

In a bid to tackle economic difficulties facing the country,a steering committee has been established to put forth solutions to secure adequate fuel, regulate commodity prices, stabilise the supply of foreigncurrency, and manage exchange rates./.
VNA
#Laos’ inflation #Lao Statistics Bureau #crude oil supply #vietnam news agency #vietnamplus Laos
Follow VietnamPlus

Related News

Laos to develop expressway linking Houaphanh with Vietnam

Laos to develop expressway linking Houaphanh with Vietnam

The Government of Laos has agreed with contractors to conduct a feasibility study for the construction of an expressway from Houaphanh province to the border with Vietnam under an agreement signed recently, Vientiane Times reported.
Laos faces risk of fuel shortage

Laos faces risk of fuel shortage

A major supplier in Laos has said that petrol supplies in this country may face “some gaps” after the government held an emergency meeting to address soaring prices and panic buying.

See more

Singapore embraces technology for safer maritime operations. (Photo: www.sciencepark.com.sg)

Singapore embraces technology for safer maritime operations

Speaking at the Accelerating Digitalisation and Decarbonisation Conference, part of the Singapore Maritime Week, Khor also highlighted plans to expand drone services in the Port of Singapore, including coordinated drone operations to help contain toxic and flammable fumes during chemical spills at sea.

The headquarters of the Monetary Authority of Singapore (Photo: MAS)

Singapore’s core inflation falls in February

Economists said Singapore's inflation will continue to ease in the months ahead, with a chance that consumer prices might even drop if the global economy takes a sharp turn downwards.

Solar panels in Indonesia. (Photo: Shutterstock)

Indonesia keeps commitment on energy transition

The US withdrawal from the Just Energy Transition Partnership (JETP) will not reduce the nine other countries' commitment to support Indonesia to achieve the net-zero target date by 2060.

Indonesia's Ministry of Transport has prepared 30,451 buses to serve the homecoming flow. (Photo: VNA)

Indonesia gears up for Idul Fitri celebrations

The Indonesian government has implemented measures to ensure stable prices and adequate supplies before Ramadan and particularly for Idul Fitri. Essential commodities including rice, cooking oil, sugar, and meat have seen increased supply to meet heightened holiday demand.

Traders serve vegetable buyers at Senen Market, Jakarta. (Photo: ANTARA)

Indonesia ensures food supply during Ramadan, Eid al-Fitr

Indonesia's Cheap Food Movement (GPM) programme focuses on stabilising consumer-level prices for essential commodities like rice, cooking oil, and bird's eye chilis, offering them at prices within the government's retail price ceiling.

Indonesia's President Prabowo Subianto chairs a Cabinet meeting in Jakarta on March 21, 2025. (Photo: Antara)

Indonesia rolls out people's schools initiative

Indonesia's Ministry of Social Affairs has identified over 200 potential sites for the establishment of people’s schools (Sekolah Rakyat), a programme designed to provide free, quality education to children from economically disadvantaged families.

The Revenue Department headquarters on Phahon Yothin Road in Bangkok. (Photo: Bangkokpost)

Thailand to tax influencers and online sellers

Director-General Pinsai Suraswadi expressed concern that many young earners, including e-commerce vendors, influencers, and product reviewers, have never filed income tax returns.