• Sri Lanka's inflation rate was 1.5 percent in April 2024, as per the Colombo Consumer Price Index (CCPI) data from the state debt office.
• The food price index notably dropped by 4.6 percent during the same period, reflecting broader deflationary pressures within the economy.

In the 12-month period leading up to April 2024, Sri Lanka experienced a modest inflation rate of 1.5 percent, as indicated by the Colombo Consumer Price Index (CCPI), according to data from the state debt office. Notably, the CCPI Index declined by 0.8 percent in April, following a 1.9 percent decrease in March, reaching 195.2 points. Since September 2022, Sri Lanka's central bank has pursued a predominantly deflationary policy, with the exception of December 2024, while also permitting the rupee to appreciate due to a surplus in the balance of payments. This shift towards deflationary measures has been reflected in the sluggish growth of the CCPI Index, which has increased by only 3.1 percent over the past 19 months. Furthermore, the food price index notably dropped by 4.6 percent during this same period, underscoring the broader trend of deflationary pressures within the economy.

Sri Lanka consumer prices up 3.1-pct over 19-months, food down 4.6-pct | Economy Next