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Aug 01, Colombo: Figures released by Sri Lanka Central Bank's Department of Census and Statistics on Friday showed that the Annual Average inflation in July was the lowest in two years at 10.4 dropping from a 12.5% in June.
The lowest within the last two years was recorded in 2007 at 10.6 percent.
Country's consumer prices rose slightly at 1.1 percent in July from a lowest year-on-year rate of 0.9 for the month of June. The decline continued for a twelve months from a high of 28.2 recorded in June 2008.
The Colombo Consumers' Price Index (CCPI) increased slightly to 208.7 from 207.8 in June.
The low inflation rate will allow the Central Bank to reduce the interest rates even further.
The Bank attributes the low inflation rates in 2009 to its tight monetary policies and global reduction of commodity prices.
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