Sri Lanka's inflation falls to 2.8% in June: Central Bank

Tags: News
Sri Lanka's inflation continues to remain in single digit for the 65th consecutive month at 2.8 per cent in June, the country's Central Bank has said.

The rate decreased to 2.8 per cent last month on year- on-year. It stood at 3.2 per cent in May this year.

"It is noteworthy to mention that inflation continues to remain in single digit level for the 65th consecutive month in June 2014," the Central Bank said in a statement.

The Annual average inflation also continued its decelerating trend since June 2013 and reached 4.9 per cent in June 2014 from 5.3 per cent in May 2014, the bank added.

The island's economy is projected to grow by 7 per cent this year.

The opposition, however, alleges that growth figures are overstated to attract foreign investments.

Responding to criticism, the government announced last month that it would resort to using International Standards Industrial Classification, the UN system for classifying economic data.

This would apply from the first quarter of 2015.

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