VIENTIANE, Feb. 27 (Xinhua) -- Laos' inflation rate dropped to 12.7 percent in February, down from 15.5 percent in January, according to a report from the Lao Statistics Bureau on Thursday.

The highest price rise in February was recorded in the medical care and medicines category, which stood at 22.7 percent, said the report.

This was followed by the cost of housing, water, electricity and gas category at 21.8 percent, the education category at 20.7 percent, and the household goods category at 20.3 percent.

The decline in the inflation rate is attributed to several factors, including the continued improvement in exchange rate stability and a steady supply of agricultural products, according to the report.

The Lao government has been implementing strategies to curb rising prices, emphasizing the importance of local production, reducing imports, and securing financial support for businesses to combat inflation.

Additionally, the Lao central bank is set to intensify efforts to address pressing economic and financial challenges to achieve a single-digit inflation rate by 2025. Enditem

Related

Go to Forum >>0 Comment(s)