The Department of Census and Statistics reports that the overall rate of inflation as measured by the National Consumer Price Index on a Year-on-Year basis has reduced to 53.2% in January 2023.
The Department said the NCPA for all items for the month of January 2023 is 201.8 and records an increase of 1.4 in index points in comparison to December 2022.
Food prices were up 53.6% in January from a year ago, while non-food inflation was 52.9% higher.
The Central Bank of Sri Lanka is expected to keep interest rates steady next week after it raised them to the highest point in nearly two decades last year to fight soaring inflation.
The CBSL predicts that inflation will reach single digits at the end of this year.
The NCPI captures broader retail price inflation across the island nation and is released with a lag of 21 days every month.