Sri Lanka’s consumer price inflation recorded a deflation of 0.8% in the 12 months ending October 2024, with only a 0.3% increase over the past 25 months as the effects of the central bank’s deflationary policy begin to manifest in the balance of payments. The Colombo Consumer Price Index (CPI) declined by 0.5% in October
The Central Bank of Sri Lanka (CBSL) anticipates that deflationary trends will continue in the coming months before inflation gradually aligns with the medium-term target of 5.0 percent. Administratively determined price cuts and improved supply conditions are expected to keep consumer prices under downward pressure. In September, Sri Lanka experienced its first dip in consumer
Inflation in the Colombo district decreased in September, following a significant slowdown in August, as both food and non-food prices declined due to increased supply conditions and reductions in fuel prices and water tariffs. According to the Colombo Consumer Price Index (CCPI), the key inflation measure, prices fell by 0.5% in September 2024 compared to
In August 2024, Sri Lanka’s national consumer prices eased to 1.1% year-on-year, down from 2.5% in July. This significant deceleration was driven primarily by declining food prices and reduced electricity tariffs, offering financial relief to consumers. On a month-to-month basis, consumer prices fell by 1.4% in August, accelerating from the 0.6% decline recorded in July.
Sri Lanka Animal Production Association President Ajith Gunasekara has called on the Government to reconsider the 20.5% tax on eggs, a perishable item, to address the escalating food prices in the country. Gunasekara highlighted that the 18% Value Added Tax (VAT) and 2.5% Social Security Levy have significantly increased egg prices. “Currently, supermarket eggs are