COLOMBO (NewsRadio); The overall rate of inflation as measured by the National Consumer Price Index on Year-on-Year basis has reduced to 2.1 per cent in August from 4.6 per cent in July 2023.
The NCPI for all items for the month of August has been recorded as 201.9 which is the same as in the month of July.
The Department of Census and Statistics said in a statement, with respect to August 2022, the reported inflation for the month of August 2023 was mainly due to higher price levels prevailed in both food and non-food groups.
The Department noted that the food inflation in August decreased to -5.4 per cent from -2.5 per cent in July, while non-food inflation reduced to 9 percent from 10.9 per cent in July.
Sri Lanka’s overall inflation peaked in September 2022 to 73.3 per cent and the food inflation increased to 85.8 per cent.
However, following policy decisions taken by the government and the Central Bank, core inflation has come down substantially in the past few months.