Laos inflation rate hits an all-time high of 30%

[reader]

All the more reason for Lao guys to head for the LOS.

From The Star

VIENTIANE, Sept 6 (Laotian Times): The inflation rate for August has been reported at a whopping 30 per cent with a 2.5 percent increase from July’s figure of 27.5 per cent.

The numbers were confirmed by the Lao Statistics Bureau on Tuesday.

The price of food and non-alcoholic beverages has surged by 30.2% year on year including that of daily essentials like rice, starch, meat, fat, vegetable oil, fruit, and vegetables.

Commercial transport and delivery charges have risen by 51.7% with automobiles, and spare parts becoming even more expensive because of the low exchange rate. Fuel prices have also shot up recently adding to people’s woes.

Additionally, prices for housing, electricity, water supply and cooking oil also increased by 20.5% due to the soaring prices of steel, cement, concrete, and gas.

 

[vinapu]

5 hours ago, reader said:

All the more reason for Lao guys to head for the LOS.

 

in the past they 100% worked for me so hope they will 

[pong2]

Strange-get the impression now (but thats based on only 1 day of some shopping compared to 1000 days go) that inflation here in TH is not at all that high compared to EUR.

Has this KIP funny money (where you only count in 1000s) also devalued that much? Or they simply use Thai bht anyway for ease?

[vinapu]

4 hours ago, pong2 said:

 

Has this KIP funny money (where you only count in 1000s) also devalued that much? Or they simply use Thai bht anyway for ease?

Just spent week there and despite inconvenience of counting in 1000,s this is how they quote their prices. Perhaps only once , max 2 times I was quoted price in  Usd or baht. Exchange rate 1 usd = 17300 -17500 kip, highest denomination 100 000 banknote

[forrestreid]

On 11/15/2022 at 1:54 PM, vinapu said:

Just spent week there and despite inconvenience of counting in 1000,s this is how they quote their prices. Perhaps only once , max 2 times I was quoted price in  Usd or baht. Exchange rate 1 usd = 17300 -17500 kip, highest denomination 100 000 banknote

Having the highest denomination note as 100,000 is quite an improvement on when I was there (about 2010), when the exchange rate was about 11,000 kip to the dollar, but the highest value note was only 20,000 kip.

So the highest denomination note was only worth about 1.80 usd, as compared to about 5.80 usd now.

You might be able to hold all the notes in one hand if you went to pay for weeks hotel stay in kip notes now.