Free Press Journal

Sri Lanka’s inflation hit record low in February

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Colombo: Sri Lanka’s annual inflation hit a record low of 0.6 per cent in February from 3.2 per cent the previous month, the government said today. The drop in inflation rate could be a result of cutting down of the cost of several consumer items after the new government of Maithripala Sirisena took over in January.

The inflation in February 2014 was 4.2 per cent. In May 2013, the inflation had hit a high of more than 8 per cent. President Sirisena had pledged to bring down the cost of living by cutting down the high customs tariff during the tenure of his predecessor Mahinda Rajapaksa.