Inflation drops to 6.3%

The Colombo Consumer Price Index (CCPI) indicated that inflation rate had dropped to 6.3 percent in July from 12 percent in June, the Department of Census and Statistics (DCS) said on Monday.

In a report, the DCS said food inflation, which stood at 4.1 percent in June, has dropped to -1.4% in July 2023.

The inflation rate in the non-food category decreased to 10.5 percent in July from 16.2 percent in June 2023.

The Department said this represents a decrease of 1973.38 rupees in the consumer basket.

The CCPI consumer basket includes 392 items, which represent the typical items used in an urban household.

Sri Lanka’s inflation has been dropping steadily since September 2022, when the CCPI recorded inflation at 69.8 percent.