Sri Lanka inflation declines in May as expected

June 01, Colombo: Sri Lanka’s inflation as measured by consumer prices in Colombo declined for the month of May, figures released by the Statistics Department of the Central Bank Tuesday showed.

The inflation as measured by year-on-year percent change declined to 8.8 percent in May 2011 from 9.8 percent in April while the Colombo Consumer Price Index increased marginally by 0.6 percent to 234.8 points in May from 233.4 points in the previous month.

The annual average inflation however, increased to 6.9 percent in in May from 6.6 percent in the previous month, as a result of the price increases.

The Central Bank attributed the slight increase in index to the price increases in the sub groups of Food and nonalcoholic beverages.

Meanwhile, Core inflation on a year-on-year basis marginally increased to 4.8 per cent in May 2011 from 4.7 per cent in April 2011 while the annual average rate continued to decrease to 5.0 per cent in May from 5.1 per cent in the previous month.

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