Laos Inflation Averages 7.9% in First Nine Months of 2026

06/10/2026 09:14

Email Print 83

KPL - Asean 2024 Laos may miss its target of keeping inflation at 5 percent in 2026, as average inflation reached 7.9 percent during the first nine months of the year, Prime Minister Saleumxay Kommasith told the 2nd Ordinary Session of the 10th National Assembly on October 5.

(KPL) He attributed the higher inflation mainly to rising fuel prices and increased costs for construction materials.

Despite inflationary pressures, Laos recorded a trade surplus of US$1.356 billion during the first nine months, while the economy grew by 4.8 percent year-on-year.

The Prime Minister also highlighted challenges in domestic revenue collection, noting that government income remains heavily dependent on natural resources rather than more sustainable sources such as land-related revenue, value-added tax and concession fees.

He said responsibilities for revenue collection between central and local authorities remain unclear, particularly for large-scale projects. Revenue leakage and tax evasion also persist, especially in the import and trade of vehicles and other goods.