Inflation on downward trend [November 29 2008]

Inflation has continued to decline in November continuing its downward trend for the last few months. Statistics on Colombo Consumers' Price Index (CCPI) released by the Central Bank of Sri Lanka indicated that the inflation has declined for November continuing the downward trend from October. The decline is attributed to the lower fuel and commodity prices in the global market.

The inflation index fell to 205.2 for this month from a peak of 207.2 in September. The index fell to 23.0 per cent from 23.4 per cent in October. Department of Census and Statistics showed that consumer price inflation declined for a fifth straight month to a 16.3 per cent in November from a 20.2 per cent in October. A record high of 28.2 per cent was for June.