Laos inflation continues to decrease in February

Vientiane (Xinhua): The inflation rate Laos decreased to 12.7 percent in February, decreasing from 15.5 percent in January, according to a report of the Lao Statistics Office on Thursday.

The highest increase in February prices was registered in the medical category Care and Medicines, which was at 22.7 percent, the report said.

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

The decline of the inflation rate is attributed to several factors, including the continuous improvement of the stability of the exchange rate and a constant offer of agricultural products, according to the report.

The Lao government has implemented strategies for reducing growth prices, emphasizing the importance of local production, reducing imports and ensuring financial support for inflation combating companies.

In addition, the Central Bank of Lao is to intensify efforts to address pressing economic and financial challenges to get a single -digit inflation rate by 2025. – Xinhua