Sri Lanka’s consumer inflation eases to 10.8% in June 2023

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Headline inflation as measured by the Year-on-Year change in the National Consumer Price Index (NCPI) has decreased to 70.6% in October

Sri Lanka inflation, based on National Consumer Price Index (NCPI), for June 2023 has been recorded at 10.8%, as measured by the year-on-year change.

According to the latest report published by the Department of Census and Statistics (DCS), this is a slight drop in comparison to the headline inflation of 22.1% recorded in May 2023.

The contributions to the NCPI on a month-on-month basis (June 2023 as opposed to May 2023) were by the increases in food items of 0.44% and decreases in non-food items of 0.3% respectively.

The DCS report further said that in comparison to June 2022, the recorded inflation for the month of June 2023 was mainly due to the higher price levels prevailed in both food and non-food groups.

However, on a monthly basis, the year-on-year inflation of the food group has dropped to 2.5% in June 2023 from 15.8% in May 2023.

Meanwhile, the year-on-year inflation of the non-food group decreased to 18.3% in June 2023 from 27.6% in May 2023.

The contribution of food commodities to inflation on a year-on-year basis was 1.21% in June 2023 compared to the month of June 2022.

Headline inflation as measured by the Year-on-Year change in the National Consumer Price Index (NCPI) has decreased to 70.6% in October

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