The most recent statistics issued by the Department of Census and Statistics shows that the overall rate of inflation, as measured by the National Consumer Price Index (NCPI), dropped to -0.2% in September 2024 from 1.1% in August 2024.
In the meantime, food inflation dropped from 2.3% in August to 0.5% in September.
In September 2024, the total NCPI for all items is 203.1, representing a 1.0 index point decline from August 2024.
“Inflation – September, Sri Lanka’s inflation drops to -0.2%.”
For the month of September 2024, the NCPI for all items is 203.1. A decrease of 0.48 percentage points, or 1.0 index points, from August 2024, when the index was 204.1. This decline indicates a drop in the “market basket” expenditure value of Rs. 500.25.
According to NCPI calculations, the total rate of inflation was 1.1% in August 2024 and -0.2% in September 2024 on a year-over-year basis.
Monthly, the food group’s year-over-year inflation dropped to 0.5% in September 2024 from 2.3% in August 2024, while the non-food group’s year-over-year inflation decreased to -0.7% in September 2024 from 0.2% in August 2024.
According to the research, food commodities contributed 0.22 percent of inflation in September 2024 compared to September 2023 on a year-over-year basis.
