VIENTIANE, Aug. 28 (Xinhua) -- Inflation rate in Laos dropped to 24.3 percent in August, down from 26.1 percent in July, according to the Lao Statistics Bureau.

Fluctuations in foreign currency exchange rates and weak domestic productivity are among factors driving inflation, according to a report released by the bureau on Wednesday.

The highest price rise in August was recorded in the medical care and medicines category, which stood at 37.6 percent.

In addition, the hotel and restaurant category was at 33.2 percent, the household goods category at 31.6 percent, and the education category at 29.7 percent.

The Lao central bank is set to further increase interest rates to alleviate inflationary pressures currently affecting the economy.

It is also advancing efforts to improve foreign currency management and develop a payment system that connects domestic and cross-border banks to promote the use of the Lao currency kip. Enditem

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