Inflation Drops in Sri Lanka after Hitting Record High
TEHRAN (ANA)- Sri Lanka's inflation measured by the year-on-year change in the national consumer price index decreased to 70.6 percent in October from a record high of 73.7 percent in September, the Department of Census and Statistics said.
Contributions to the inflation for October from the food group was 38.5 percent and the non-food group was 32.1 percent, data showed, Xinhua reported.
Prices of fresh fish, rice, dried fish, coconut oil, sugar, potatoes, chicken, biscuits, wheat flour, chili powder and green chilies decreased in October.
However, prices of milk powder, big onions, fresh fruits, tea leaves, bread, rice flour, vegetables and green gram increased in October.
Sri Lanka has been witnessing inflation of over 50 percent since June 2022.
The central bank has increased interest rates to control inflation, saying that inflation will drop to 4-5 percent by 2023.
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