Inflation dips to 4.6%: Dept. of Census and Statistics

Sri Lanka’s inflation, based on the National Consumer Price Index (NCPI), decreased to 4.6 percent in July, from 10.8 percent in June, the Department of Census and Statistics said on Monday. The Department said inflation in the food category dropped to negative 2.5 percent last month, from 2.5 percent in June. Inflation in the non-food group decreased to 10.9 percent in July, from 18.3 percent in June.

Sri Lanka’s inflation will fall further in August 2023 and then stabilize between 4 percent and 6 percent, Director of the Central Bank’s Economic Research Department, P. K. G. Harischandra, told journalists earlier this month. Sri Lanka’s inflation has been dropping steadily since September 2022 when the NCPI recorded inflation at 73.7 percent. (RK)