* Sri Lanka inflation rate declined to single digits in February
Friday, February 27, 2009, 18:50 GMT, ColomboPage News Desk, Sri Lanka.

Feb 27, Colombo: Sri Lanka Central Bank today said the country's inflation rate dropped to a year-on-year 7.6 percent this month from 10.7 percent in January and it would further drop.

The decline is continuing for the last eight months from a high of 28.2 recorded in June 2008.

Sri Lanka's Annual Average inflation dropped to 20.3% from a 21.6% in January while the Colombo Consumers' Price Index (CCPI) declined slightly to 202.9 from 203.1 in January.

The Central Bankr attributed the decline to the reduction in global prices fuel and several other essential consumer items and tight monetary policies of the Bank.