Colombo, March 1 (IANS) Sri Lanka’s inflation has dropped to the lowest level in 24 months, hitting 2.7 percent in February, the latest data from the Central Bank showed Thursday.
Inflation, as measured by the Colombo Consumers’ Price Index computed by the Department of Census and Statistics, decreased on a year-on-year basis from 3.8 percent in January 2012 to 2.7 percent in February, which is the lowest rate since January 2010, reported Xinhua.
The annual average inflation also decreased to 6.1 percent in February from 6.5 percent in the previous month for the fifth consecutive month, data released by the Central Bank showed.
In addition, the annual average core inflation continued to decrease to 6.6 percent as compared to that of January 2012, while the core inflation on an year-on-year basis remained at 4.7 percent in February 2012.
However, analysts predict that inflation will rise this month as a large fuel price increase pushes prices higher.
The government three weeks ago raised diesel prices by 36 percent and petrol by 8 percent to counter global market rates sparking protests around the country.
