The rate of inflation dropped to 7.6 per cent last month due to the financial policies implemented by the Central Bank,said State Revenue and Finance Minister Ranjith Siyambalapitiya in Parliament yesterday.

According to Central Bank sources, the rate of inflation in June 2008 was 28.2 per cent.

“It is significant that the Government has successfully controlled the inflation rate to a single digit of 7.6 per cent in comparison to the 28.2 per cent recorded in June 2008”, minister said.

Sri Lanka has suffered a high inflation rate for a long time and it is a significant victory by both , the Government an the Central Bank in its monetary measures, The Minister further said.

Despite the world economic crisis the government has introduced a special incentive package to protect the registered financial companies and leasing companies.The total amount allocated for this project is Rs. 4250 million.