Sri Lanka's inflation, as measured by the change in the Colombo Consumers' Price Index (CCPI) dropped to a 28-month low of 2.8 percent in June 2014 on a year-on-year basis, figures released Monday by the Central Bank showed.
This month's inflation is the lowest rate recorded since February 2012 which was 2.7%. The year on year inflation has been in single digit figures for 65 months continuously.
Annual average inflation, which declined since June 2013, declined further to 4.9 percent in June 2014, from 5.3 percent in May 2014.
The general price level increased in June 2014 by 1.1 percent compared to the prices in the previous month raising the absolute CCPI computed by the Department of Census and Statistics to 181.4 in June from 179.5 in May.
The increase in the index was attributed mainly to the increase in food prices. Due to less supply during the month of June 2014, the prices of rice, most varieties of fresh fish, vegetables, potatoes, red onions, B onions, green chilies, pepper and lime increased significantly contributing 1.07 percent of the 1.1 percent increase in the index.