Annual average inflation declined to 3.1% last month, although inflation, as measured by the year-on-year (y.o.y.) increase in the Colombo Consumers’ Price Index (base=2002) increased to 6.5% in January 2010, from 4.8% at end 2009, Central Bank of Sri Lanka (C.B.S.L.) said.
The gradual increase in y.o.y. inflation mainly reflects the dissipation of the base effect [...]