Headline inflation in Sri Lanka remains negative for second month
(Photo by Christoph Theisinger on Unsplash)
The Central Bank of Sri Lanka’s latest projections reveal that headline inflation, measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2021=100), remained in negative territory for the second consecutive month.
In October 2024, the economy saw a deflation rate of 0.8%, following the 0.5% deflation recorded in September 2024.
The non-food category experienced a marked increase in deflation, with Y-o-Y figures indicating a 1.6% decline in October, deeper than the 0.5% decrease seen in September.
However, the food category moved from deflation to inflation, posting a 1.0% increase in October after a 0.3% deflation in September.
The Central Bank’s projections highlight these contrasting trends within food and non-food categories, reflecting underlying shifts in consumer prices across different segments of the economy.
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