CCPI based headline inflation remains negative in Oct.

Friday, 1 November 2024 00:20 - - {{hitsCtrl.values.hits}}

In line with the Central Bank’s near term projections, headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index remained in the negative territory for the second consecutive month, recording a deflation of 0.8% in October 2024 compared to 0.5% in September 2024.

CBSL said the Non-Food deflation (Y-o-Y) deepened further to 1.6% in October 2024 from 0.5% in September 2024. Nevertheless, food category recorded an inflation (Y-o-Y) of 1.0% in October 2024 compared to the deflation of 0.3% in September 2024.

On a month-on-month basis, the CCPI recorded a decline of 0.53% in October 2024 due to 0.20% reduction in the prices of items in the Food category and 0.33% reduction in the prices of items in the Non-Food category.

Core inflation (Y-o-Y), which reflects the underlying inflation trends in the economy, moderated to 3% in October 2024 from 3.3% in September 2024.

“Looking ahead, current deflation conditions are expected to continue for a few months, driven by changes to administratively determined prices and easing of supply conditions. However, thereafter, inflation is expected to gradually align with the targeted level of 5%, aided by appropriate policy measures,” CBSL added.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.