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Aug 31, 2011 6:38:32 AM - itnnews.lk

Sri Lanka’s inflation as measured by consumer prices in Colombo declined for the month of August. The figures have been released by the Statistics Department of the Central Bank.

According to the new consumer price index, the inflation as measured by year-on-year percent change declined to 7.0 percent in August 2011 from 7.5 percent in July while the Colombo Consumer Price Index decreased marginally by 0.3 percent to 151.3 points in June from 151.7 points in the previous month. The financial authority attributed the drop in CCPI to the decline in food prices resulted due to improvements in supply.
The Bank pointed out that the year-on-year core inflation, which had been increasing continuously from March 2011 to reach 8.9 percent in July 2011 dropped sharply to 7.8 percent in August 2011.