February inflation records at 53.6%

Sri Lanka’s nationwide inflation in February 2023 determined under the National Consumer Price Index (NCPI) marginally increased to 53.6 % from 53.2 % recorded in January. The NCPI for all items for the month of February 2023 is 204.1. An increase of 2.3 index points or 1.13 % compared to January 2023 for which the index was 201.8.

Year-on-Year inflation of the food group decreased to 49.0% in February 2023 from 53.6% t in January and the Year-on-Year inflation of the non-food group increased to 57.4 % in February from 52.9 % in January 2023.

With respect to February 2022, the reported inflation for the month of February 2023 was mainly due to the higher price levels that prevailed in both food and non-food groups. Contributions to the inflation rate of February 2023 from food group and non-food group are 22.13 % and 31.46 % respectively.