COLOMBO (NewsRadio); The overall rate of inflation as measured by the Colombo Consumer Price Index on Year-on-Year basis has reduced to 1.3 per cent in September from 4 per cent in August.
The government earlier this year announced that it has taken a number of steps to strengthen the economy and it aims to reduce the inflation rate to a single digit figure by July.
Accordingly, the government has made a rapid transformation of the economy where the rate of inflation last year was well over 50 per cent.
Meanwhile, the Department of Census and Statistics said the CCPI for all items for the month of September is 191.8 and it records an increase of 1.7 in index points from last month.
Meanwhile, the food inflation has also reduced to -5.2 per cent from -4.8 per cent.
Meanwhile, the Non-Food inflation has reduced to 4.7 per cent in August from 8.7 per cent in July.
The CCPI is compiled to indicate the average changes in the prices of goods and services purchased by households in urban areas of Colombo.