Sri Lanka's key inflation rate eases to 50.3% in March

Sri Lanka's key inflation rate eased to 50.3% in March from 50.6% in February, the statistics department said on Friday.

The Colombo Consumer Price Index (CCPI) reflected a reduction in food inflation to 47.6% in March from 54.4% in February, but non-food inflation reached 51.7%, the Census and Statistics Department said in a statement.

Sri Lanka has been struggling with soaring prices for over a year, largely caused by its worst financial crisis since it gained independence from Britain in 1948. The CCPI acts as a lead indicator for broader national prices and shows how inflation is evolving in Colombo, Sri Lanka's biggest city.