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* Sri Lanka inflation declines further in January
Fri, Jan 31, 2014, 09:44 pm SL Time, ColomboPage News Desk, Sri Lanka.

Jan 31, Colombo: Sri Lanka's inflation, as measured by the change in the Colombo Consumers' Price Index (CCPI) , declined further to 4.4 percent in January 2014 from previous month's 4.7 percent on a year-on-year basis, the Central Bank reported on Friday.

Annual average inflation, which declined since June 2013, moderated further to 6.5 percent in January 2014, from 6.9 percent in December 2013.

The absolute CCPI computed by the Department of Census and Statistics for the month of January 2014 increased to 177.5 from 176.5 in December 2013.

The Central Bank attributed the marginal increase in the CCPI by 0.6 percent mainly to the price increase in the Non-food category by 1.7 percent which, however, was partly off-set by the decline in price of Food category by 0.9 percent.

The Central Bank says the continued low level of core inflation is a result of prudent monetary management by the monetary authority, which has been implemented successfully in containing price pressure emanating from the demand side.

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