Mr Assad passed three decrees on February 17th, with the apparent aim of alleviating the impact of the rising global prices of commodities, which has pushed up year-on-year inflation to above 6% (February 2011, Economic performance), and lowering costs for businesses. Legislative Decree 23 lowers the consumption tax on a range of food items, including cooking oils and fats, coffee and sugar by between 20% and 30%; Decree 70 lowers customs duties on a number of imported foodstuffs; and Legislative Decree 24 cuts the insurance premium required for loans and guarantees, and reduces stamp duties required for licensing companies and signing insurance premiums.