By: Isuru Parakrama
October 21, Colombo (LNW): Sri Lanka has recorded a decline in the Overall Rate of Inflation for September 2024, with the National Consumer Price Index (NCPI) reflecting a deflationary trend at minus 0.2 per cent.
This marks a notable decrease compared to the inflation rate of 1.1 per cent observed in August of the same year, according to the latest data from the Department of Census and Statistics.
A key factor contributing to this reduction has been the decline in both food and non-food inflation rates.
Food inflation dropped to 0.5 per cent in September, down from 2.3 per cent in August.
This reflects a significant easing in the prices of essential food items, providing some relief to households struggling with cost-of-living pressures in recent months.
Non-food inflation also exhibited a downward shift, falling to minus 0.7 per cent in September from 0.2 per cent in the previous month.
The negative rate of inflation in this sector suggests a reduction in the cost of goods and services such as transportation, healthcare, and utilities.
This development could be seen as an indication of stabilisation in sectors that have been subject to price fluctuations over the past year.
See Full Report: http://www.statistics.gov.lk/WebReleases/NCPI_Sep_2024
