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* Inflation drops further in Sri Lanka in April
Mon, May 3, 2010, 11:35 pm SL Time, ColomboPage News Desk, Sri Lanka.

May 03, Colombo: For the second consecutive month Sri Lanka's inflation decreased to 5.8 percent in April from a 6.3 per cent in March 2010, Central Bank's Department of Census and Statistics figures released today showed.

However, the annual average inflation, increased marginally to 3.4 percent in April from 3.2 percent in March.

The reduction in inflation was attributed to the drop in consumer prices of food commodities and non-alcoholic beverages. Especially, decrease in prices of rice, red onions, big onions, dhal, sugar, some varieties of vegetables and fish, coconut and coconut oil contributed towards this decline in the sub index, the Central Bank reported.

However other sub-categories such as clothing and footwear, furnishing, household equipment and routine household maintenance have shown an increase in the prices.

The Central Bank expects to continue its tight monetary policies to keep inflation below 10 percent while sustaining an economic recovery.

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