November 22, Colombo (LNW): Sri Lanka’s inflation, as measured by the National Consumer Price Index (NCPI), dropped to -0.7% in October 2024, a further decline from -0.2% in September, according to data released by the Department of Census and Statistics.
Food inflation also recorded a decrease, moving from 0.5% in September to -0.16% in October, reflecting a reduction in the cost of essential commodities.
The NCPI for all items stood at 203.6 in October, showing a month-on-month decrease of 0.5 index points. The reduction was driven by decreases in both food items (0.16%) and non-food items (0.35%), indicating easing price pressures across various sectors.
This continued decline in inflation highlights the stabilizing effects of economic measures implemented to address the country’s financial challenges, benefiting consumers and households across the nation.
