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Wednesday, November 19, 2014 -  05.23 GMT
Inflation declines to 1.6 percent in October 2014

 

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 yesterday.

Annual average headline inflation also declined to 3.8 per cent from 4.2 per cent. Core inflation meanwhile, was at 3.6 per cent in October 2014 compared to 3.7 per cent in the previous month indicating well contained demand pressures on inflation, the Bank further said.

It is expected that subdued commodity prices in the international market, recent budget proposals such as reducing the Value Added Tax (VAT) to 11 per cent and stable inflation expectations would keep inflation at benign levels in the period ahead, the Central Bank added.





 


 

 
 
   
   
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Last modified: November 19, 2014.

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