Inflation Dropping – 12% in June. Food Inflation Dropped to Single Digit

The Year-on-Year (Y-o-Y) inflation based on the Colombo Consumer Price Index (CCPI) decreased to 12% in June 2023, the Department of Census and Statistics reported. Accordingly, in comparison to the 25.2.% seen in May, the Y-o-Y was down by 13.2% in June. Meanwhile, food inflation also decreased to 4.1% in June, from the 21.5% recorded last month.

According to the National Consumer Price Index (NCPI) inflation recorded at 22.1% in May and Food Inflation decreased to 15.8% in May.

In 2022 March, Sri Lanka’s inflation was the 2nd highest in the world according to the Steve Hanke’s inflation chart. It was estimated that Sri Lanka’s true inflation in 2022 March was 132%.