Inflation, consumer prices for the Lao People's Democratic Republic
FPCPITOTLZGLAO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
23.13
Year-over-Year Change
443.59%
Date Range
1/1/1989 - 1/1/2024
Summary
This economic trend measures consumer price inflation in the Lao People's Democratic Republic. Monitoring changes in consumer prices is crucial for policymakers and economists to assess the broader economic climate and cost of living.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Consumer Price Index (CPI) for the Lao PDR tracks the weighted average change in prices paid by consumers for a basket of common goods and services. It is a key indicator of the country's overall inflation rate and purchasing power.
Methodology
The Lao CPI is calculated monthly by the Lao Statistics Bureau based on prices collected from a sample of retail outlets.
Historical Context
Inflation data helps the Lao central bank and government formulate effective monetary and fiscal policies.
Key Facts
- Lao PDR CPI has a base year of 2015.
- Inflation peaked at over 10% in Lao PDR in 2022.
- The Lao kip is the official currency of the Lao PDR.
FAQs
Q: What does this economic trend measure?
A: The Lao PDR Consumer Price Index (CPI) measures the changes in the prices paid by consumers for a basket of common goods and services in the country.
Q: Why is this trend relevant for users or analysts?
A: Tracking the Lao CPI is crucial for understanding the country's overall inflation rate and the purchasing power of consumers, which informs policymaking and economic analysis.
Q: How is this data collected or calculated?
A: The Lao CPI is calculated monthly by the Lao Statistics Bureau based on prices collected from a sample of retail outlets across the country.
Q: How is this trend used in economic policy?
A: Lao PDR's central bank and government use the CPI data to formulate appropriate monetary and fiscal policies to manage inflation and support economic growth.
Q: Are there update delays or limitations?
A: The Lao CPI data is published with a short lag, typically within a month of the reference period.
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Citation
U.S. Federal Reserve, Inflation, consumer prices for the Lao People's Democratic Republic (FPCPITOTLZGLAO), retrieved from FRED.