COLOMBO, Dec. 31 (Xinhua) -- Sri Lanka's overall inflation rate, measured by the Colombo Consumer Price Index (CCPI) on a year-over-year basis, fell 1.7 percent in December from a drop of 2.1 percent in November, according to the department of census and statistics on Tuesday.

Inflation in the food category increased to 0.8 percent from 0.6 percent, and prices in the non-food category decreased 3.0 percent year-on-year, compared to November's drop of 3.3 percent, the department said.

In September 2022, inflation surged to 69.8 percent as the South Asian nation faced an economic crisis.

The Sri Lankan Central Bank, in its recent report, indicated that headline inflation is expected to remain below target in the coming months and reach the 5 percent target in the medium term with appropriate policies. Enditem

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