Sri Lanka's inflation, as measured by the change in the Colombo Consumers' Price Index (CCPI), declined considerably to 1.6 percent in October 2014 from 3.5 percent in the previous month on a year-on-year basis, the Central Bank reported on Friday.
This decline, lowest since November 2009, was mainly due to the downward revision of electricity tariff by around 25 percent, the Bank said.
Annual average inflation, which declined since June 2013, declined further to 3.8 percent in October 2014, from 4.2 percent in previous month.
The general price level decreased by 1.6 percent in October 2014 compared to the prices in the previous month. The absolute CCPI computed by the Department of Census and Statistics declined from 181.9 in September to 179.0 in October.
Prices in the Food and Non Alcoholic Beverages sub category increased marginally during the month.
Core inflation, which indicates the underlying inflation in the economy, decreased to 3.6 percent in October 2014, from 3.7 percent in September 2014 on a Year-on-Year basis. Meanwhile, annual average core inflation increased to 3.3 percent in October from 3.2 percent recorded in the previous month.