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SRI LANKA INFLATION SLOWS TO 2.9 PCT IN APRIL.
COLOMBO, May 1 Asia Pulse - Consumer inflation in Sri Lanka's capital Colombo, in the 12-months to April slowed to 2.9 per cent from 5.3 per cent in March, with prices declining for the seventh straight month, the statistics office said.
The Colombo Consumer Prices Index (CCPI) has been declining on an absolute basis from October after peaking at 207.2 in September. In the 30 days of April the index inched down 0.5 per cent to 201.0 points.
The reported inflation for April is the lowest since March 2004 when the 12-month inflation in Colombo was 2.5 per cent in the following two years of tight fiscal policy and complementary monetary policy.
Seasonally adjusted inflation, which is a lagging indicator, averaged over 24 months, fell to 16.7 per cent from 18.6 per cent.
Sri Lanka's inflation has fallen on tight monetary policy from late 2007 which allowed the country to benefit from an external deflationary environment.
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