Inflation rises to 6.5 pct in January
Sri Lanka’s inflation, measured by the National Consumer Price Index, increased to 6.5 percent in January from 4.2 percent reported in December 2023, the Department of Census and Statistics said on Wednesday.
The department said the food inflation increased to 4.1 percent from 1.6 percent during the period while the inflation in the non-food category had increased to 8.5 percent from 6.3 percent.
Sri Lanka’s central bank said last week that the inflation is anticipated to gradually stabilize at the targeted level of 5 percent over the medium term, following a short-lived acceleration of inflation in the near term on account of recent tax adjustments and supply-side disruptions.
The central bank said that headline inflation is expected to peak in the third quarter of 2024, mainly on account of the unfavourable base effect stemming from sharp disinflation recorded in the third quarter of 2023.