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Inflation in May has dropped to 5.3% from 5.8% in April, according to the data released by the Department of Census and Statistics. This is the lowest recorded inflation rate this year with 6.5% in January, 6.9% in February and 6.3% in March, 2010.
The Central Bank recently announced that the price pressures in the near term will be reduced owing to many factors.
It said improvements in the supply side particularly good performance in the paddy production in the maha season and the subdued prices of commodities in the international markets helped this factor, reports state.
The annual inflation is at 3.6% according to the Statistics Department.
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