Inflation declines to 2.1% in August

Friday, 22 September 2023 00:26 - - {{hitsCtrl.values.hits}}

The inflation in August determined by the National Consumer Price Index (NCPI) decreased to 2.1% from 4.6% in July 2023 on a year-on-year basis.

The Department of Census and Statistics said the NCPI for all items for the month of August 2023 is 201.9. The month-on-month change was contributed by decreases in food items of 0.56% and increases in non-food items of 0.60%.

Year-on-year inflation of the food group decreased to 5.4% in August 2023 from 2.5% in July, while the year-on-year non-food inflation reduced to 9% in August from 10.9% in July 2023.

Contributions to the inflation rate of August 2023 from food group and non-food group are -2.56% and 4.73% respectively.

Sri Lanka’s overall inflation peaked in September 2022 to 73.3% and the food inflation increased to 85.8%. However, following policy decisions taken by the Government and the Central Bank, core inflation has come down substantially in the past few months.

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.