Laos:Inflation

Inflation: percent change in the Consumer Price Index: For that indicator, The World Bank provides data for Laos from 1989 to 2011. The average value for Laos during that period was 22.7 percent with a minumum of 6 percent in 2010 and a maximum of 128.4 percent in 1999. Below we provide more information about: Inflation in Laos.

Inflation in Laos and other countries is usually calculated as the percent change in the Consumer Price Index (CPI) from one year to the next. The CPI represents the prices paid by the average urban consumer in each respective country. Inflation can also be calculated with other price indexes such as the Produce Price Index or the so-called GDP deflator. You can read about the measures, causes, and consequences of inflation in the inflation articles of our global economy guide.

Most countries try to keep inflation somewhere around 2-3 percent per year. That is too low to cause any problems for the businesses and households. At the same time, it is comfortably away from negative inflation, i.e. from deflation. Of course, this target is often missed.

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World Bank definition: Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used.