The inflation rate in the country has slowed since August last year. In other words, the prices of goods and services are rising but at a slower pace than usual.
According to the National Statistics Bureau’s (NSB) Consumer Price Index Report, the inflation rate dropped to 2.98 per cent in January from five per cent last August.
There hasn’t been any marked increase in the overall price of imported food as well as non-food items.
However, the prices of local food items, including home grown rice and vegetables, have been on the rise.
The prices shot up particularly during the lean season when the supply shrunk.
Meanwhile, the decrease in fuel prices has also made transportation cheaper as taxi and bus fares dropped.
