Sri Lanka’s inflation rises to 2.8% in November

Sri Lanka’s inflation, based on the National Consumer Price Index (NCPI), increased to 2.8 percent in November, from 1 percent reported in October, the Department of Census and Statistics said on Thursday.

The Department said inflation of the food category rose from -5.2 percent to -2.2 percent during the period, while the inflation of the non-food category gained from 6.3 percent to 7.1 percent.

The NCPI has been released monthly, from October 2015, with a time lag of 21 days, reflecting new methods consistent with international best practices.

State Minister of Finance Ranjith Siyambalapitiya said that Sri Lanka’s inflation is expected to rise to 5 percent next year after the government raises the value-added tax (VAT) to 18 percent from January 2024.