RTTNews - Sri Lanka's consumer price index or CPI rose 0.9% year-on-year in August, slower than the 1.1% growth in July, the Department of Census and Statistics said on Monday. The consumer price inflation was 24.9% a year ago.

On a monthly basis, consumer prices fell 0.3% in August, in contrast to the 0.4% increase in the previous month.

On August 18, the Central Bank of Sri Lanka had retained the policy interest rates at their existing levels. The central bank maintained the reverse repurchase rate at 11% and the repurchase rate at 8.5% for the second straight month.

In an earlier report, Governor of Central Bank of Sri Lanka, Nivard Cabraal said that the economy is expected to expand in the range of 3.5% to 4.5% in 2009.

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