By South China Morning Post | Created at 2024-11-18 05:21:38 | Updated at 2024-11-18 07:50:07
2 hours ago
Suffocating under a mountain of debt to China, communist Laos is struggling to tame rampant inflation, with food prices rising so sharply that a growing number of households are resorting to foraging.
At a market in Vientiane, traders said they have never known business to be so slow, as families have seen the value of their money collapse.
Prices rocketed 23 per cent in 2022 and 31 per cent last year, while they are on course for 25 per cent this year, according to the Asian Development Bank (ADB).
Families in particular have been hit hard as the cost of basic staples such as rice, sugar, oil and chicken doubled last year.
A growing number of households are so desperate for food that they are now having to forage to supplement their diets, according to a World Bank household survey earlier this year.
