Sri Lanka’s inflation drops to -0.2% in September 2024 amid falling food prices
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The overall rate of inflation, as measured by the National Consumer Price Index (NCPI), decreased to -0.2% in September 2024, down from 1.1% in August 2024, according to the latest data released by the Department of Census and Statistics.
Meanwhile, food inflation also declined to 0.5% in September, from 2.3% in August.
The NCPI for all items in September 2024 was 203.1, showing a decrease of 1.0 index points compared to August 2024.
The NCPI for all items in September 2024 was 203.1, reflecting a reduction of 1.0 index points, or 0.48%, compared to the August 2024 index of 204.1. This drop represents a decrease in expenditure value of Rs. 500.25 in the “market basket.”
The overall rate of inflation, as measured by the NCPI on a year-over-year basis, was -0.2% in September 2024, compared to 1.1% in August 2024.
On a monthly basis, the year-on-year inflation for the food group decreased to 0.5% in September 2024, from 2.3% in August 2024, while year-on-year inflation for the non-food group fell to -0.7% in September 2024 from 0.2% in August 2024.
On a year-on-year basis, the contribution of food commodities to inflation was 0.22% in September 2024, compared to September 2023, according to the report.
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