Laos Had Highest Inflation in ASEAN in June 2022

Economics & Macro

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Viva Budy Kusnandar 12/07/2022 12:50 WIB

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The rising price of oil and the depreciation of the Lao Kip have triggered uncontrolled inflation in the country.

Annual Inflation in 10 ASEAN Member States (June 2022)

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Laos Had Highest Inflation in ASEAN in June 2022

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Annual Inflation in 10 ASEAN Member States (June 2022)

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High inflation is threatening the global economy, including the economies of Southeast Asian countries.

Laos is the Association of Southeast Asian Nations (ASEAN) member most severely affected by inflation. The annual inflation rate in Laos reached 23.6% (year on year/yoy) in June 2022.

The Laotian online media outlet, *Laotiantimes*, reported that this inflation rate is the highest since May 2000. This high inflation is mainly driven by rising fuel prices.

"The increase in the price of gasoline, cooking gas, and other imported goods, followed by the depreciation of the Kip against the US dollar, has triggered uncontrolled inflation," said Laotian authorities as reported by *Laotiantimes* on Monday (4/7/2022).

The next ASEAN country with the highest inflation is Myanmar, reaching 11.39% (yoy) until March 2022. This is followed by Thailand with an inflation rate of 7.66% (yoy) until June 2022.

Then Cambodia's inflation is 7.2% (yoy) until March 2022, the Philippines 6.1% (yoy) until June 2022, and Singapore 5.6% (yoy) until May 2022.

Meanwhile, Indonesia's inflation was still at 4.35% (yoy) in June 2022. Brunei Darussalam's inflation was 3.2% (yoy) as of March 2022, Vietnam 3.37% (yoy) as of June 2022, and Malaysia 2.8% (yoy) as of June 2022.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."