Inflation down in July

Inflation as measured by consumer prices in Colombo declined in July, figures released by the Statistics Department of the Central Bank indicated.

For the second consecutive month, the inflation as measured by Colombo Consumers' Price Index (CCPI) decreased to 6.1 percent in July 2013 from 6.8 percent in the previous month.

The inflation rate on an annual average basis declined to 8.3 percent in July 2013 from 8.6 percent recorded in the previous month. Consumer prices rose marginally by 0.2 percent in the month and on absolute terms, the CCPI index computed by the Department of Census and Statistics based on consumer prices increased to 176.8 in July from 176.5 in June 2013.

The contribution to the monthly increase in the Index came mainly from price increases in the food and non-alcoholic beverages subcategory, the Central Bank noted.