Sri Lanka inflation at 2.8-pct in June: Statistics office

June 30, 2014 (LBO) – Sri Lanka consumer prices rose 2.8 percent in the 12-months to June 2014 from a year earlier, slowing from 3.2 percent in May, the state statistics office said. Prices during the month rose sharply by 1.1 percent, the highest monthly gain in the Colombo Consumer Price Index seen since June 2013 when the index gained 1.5 percent.

The index had gained 2.7 percent in the past six months, just under the 12-month figure.

The food and non-alcoholic beverage sub-index rose 3.1 percent in the 12-months to June and the non-food index was up 2.5 percent.

Sri Lanka’s inflation which spiked to nearly 10 percent in 2012 after the currency depreciated sharply in the wake of money printing (a privately compiled independent index measured inflation around 20 percent at the time) has been subdued after credit slowed.

Treasury Secretary P B Jayasundera said Friday inflation would be 2.8 percent in June.