LNP - Sri Lanka’s inflation drops to -0.2% in September

The overall rate of inflation, as measured by the National Consumer Price Index (NCPI), has decreased to -0.2% in September 2024 from 1.1% in August 2024, according to the latest data released by  the Department of Census and Statistics.  Meanwhile, food inflation also decreased to 0.5% in September, down from 2.3% in August. The NCPI for all items for the month of September 2024 is 203.1 and it records a decrease of 1.0 in index points compared to August 2024. The NCPI for all items for the months of September 2024 is 203.1. A decrease of 1.0 index points or 0.48 percentage compared to August 2024 for which the index was 204.1. This decrease represents a decrease in expenditure value of Rs. 500.25 in the “market basket”. The overall rate of inflation as measured by the NCPI on a Year-over Year basis was -0.2% in September 2024 and inflation calculated for the August 2024 was 1.1%.  On a monthly basis, the Year-on-Year inflation of the food group decreased to 0.5% in September 2024 from 2.3% in August 2024 and the Year-on-Year inflation of the non-food group decreased to -0.7% in September 2024 from 0.2% in August 2024. On a Year-on-Year basis, contribution of food commodities to inflation was 0.22 percent in September 2024 compared to the month of September 2023, the report said.