Sri Lanka inflation rate eases to 0.8% in Sept vs 2.1% in Aug

SRI Lanka’s consumer price inflation rate eased to 0.8 per cent year-on-year in September from 2.1 per cent in August, the statistics department said on Monday (Oct 23).

The National Consumer Price Index captures broader retail price inflation and is released with a lag of 21 days every month.

Food prices fell 5.2 per cent in September after declining 5.4 per cent in August, from a year earlier, the Department of Census and Statistics said in a statement.

Prices for non-food items, however, climbed 5.9 per cent in September after rising 9 per cent year on year in August.

Sri Lanka experienced record high inflation after its economy was pummelled by the worst financial crisis in decades.

But since June, its inflation has come down sharply, partly due to the statistical base effect, but also helped by a stronger rupee currency, and improved harvests. REUTERS