Sri Lanka national inflation hits 5.6-pct in October

ECONOMYNEXT – Sri Lanka’s nationwide inflation hit an almost two-year high of 5.6 percent in October 2019, according to central bank data.

The National Consumer Price Index compiled by the Census and Statistics Department had risen 5.0 percent in September and 3.4 percent in August 2019.

The NCPI last rose over five percent 20 months ago, when it hit 5.4 percent in January 2018

The rise in the National Consumer Price Index in October was owing to the monthly increases of prices of food, a statement said.

Year-on-year food inflation increased to 7.3 per cent in October 2019 from 4.9 per cent in September 2019 while non-food inflation was 4.3 per cent, continuing its decreasing trend observed since May 2019, the statement said.

(COLOMBO, 21 November 2019)