Sri Lanka's inflation drops further to 50.3 percent in March

COLOMBO, March 31 (Xinhua) -- Sri Lanka's inflation decreased to 50.3 percent in March from 50.6 percent in February, official statistics showed on Friday.

The year-on-year inflation of the food group dropped to 47.6 percent in March from 54.4 percent in February, and inflation in the non-food group increased to 51.7 percent from 48.8 percent in February.

Inflation in the country has been dropping in the last few months.

Inflation fell to 54.2 percent in January from 57.2 percent in December 2022.

The country's central bank said that inflation will be reduced to single digit by the end of the year.