Lao People’s Democratic Republic

Data cited at: Consumer price indexes, The International Monetary Fund Consumer price indexes (CPIs) are index numbers that measure changes in the prices of goods and services purchased or otherwise acquired by households, which households use directly, or indirectly, to satisfy their own needs and wants. In practice, most CPIs are calculated as weighted averages of the percentage price changes for a specified set, or ‘‘basket’’, of consumer products, the weights reflecting their relative importance in household consumption in some period. CPIs are widely used to index pensions and social security benefits. CPIs are also used to index other payments, such as interest payments or rents, or the prices of bonds. CPIs are also commonly used as a proxy for the general rate of inflation, even though they measure only consumer inflation. They are used by some governments or central banks to set inflation targets for purposes of monetary policy. The price data collected for CPI purposes can also be used to compile other indices, such as the price indices used to deflate household consumption expenditures in national accounts, or the purchasing power parities used to compare real levels of consumption in different countries.

Note: For latest Year, 2022 value is April to October.

Data cited at: The World Economic Forum https://www.weforum.org/ Topic: The Global Competitiveness Report Publication URL: https://www.weforum.org/reports/the-global-competitiveness-report-2020 License: https://creativecommons.org/licenses/by-nc-nd/4.0/legalcode

Data cited at:  Knowledge4All, United Nations Development Program & Mohammed Bin Rashid Al Maktoum Knowledge Foundation.

The World Bank updated the global poverty lines in September 2022. The Poverty data are now expressed in 2017 Purchasing Power Parity (PPP) prices, versus 2011 PPP in previous editions. The new global poverty lines of $2.15, $3.65, and $6.85 reflect the typical national poverty lines of low-income, lower-middle-income, and upper-middle-income countries in 2017 prices.

Global growth is expected to hold steady at 2.7 percent in 2025-26. However, the global economy appears to be settling at a low growth rate that will be insufficient to foster sustained economic development. Emerging market and developing economies are set to enter the second quarter of the 21st century with per capita incomes on a trajectory that implies feeble catch-up toward those of advanced economies. Most low-income countries are not on course to graduate to middle-income status by 2050. Policy action at the global and national levels is needed to foster a more favorable external environment, enhance macroeconomic stability, reduce structural constraints, address the effects of climate change, and thus accelerate long-term growth and development.

The primary World Bank collection of development indicators, compiled from officially-recognized international sources. It presents the most current and accurate global development data available, and includes national, regional and global estimates

Note: World Economic Situation and Prospects, 2021 update available here: https://knoema.com/WESP2021/