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Inflation drops by 50%

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The Overall Rate of Inflation as measured by the National Consumer Price Index (NCPI) for the month of July 2023 has significantly dropped to a single digit of 4.6 percent compared to 10.8 percent in June 2023.

“This is about a 50 percent drop of inflation which is a record breaking achievement,” the Department of Census and Statistics sources said.

The Department of Census and Statistics released Sri Lanka’s National Consumer Price Index (NCPI) and Monthly Consumer Inflation for the month of July 2023 yesterday (21).

The Food Inflation has seen a decrease in July 2023 to -2.5 percent from 2.5 percent in June 2023.

Also, the Non-Food Inflation has dipped to 10.9 percent in July 2023 from 18.3 percent in June 2023.

Major NCPI Highlights for July 2023:

The NCPI (Base 2021=100) in July 2023 has seen a decrease to 201.9 from 203.3 in June 2023.

The Month on Month change has contributed by -0.17 percent from the Food category and -0.53 percent from the Non-Food category.

The NCPI Core (Base 2021=100) in July 2023 has seen an increase to 188.0 compared to 186.5 in June 2023.

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