Sri Lanka’s inflation rate exceeds 50% for the first time since 1954

Sri Lanka’s headline inflation has increased to 54.6% in June 2022 from 39.1% in May 2022.

Sri Lanka’s inflation rate as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI) has exceeded 50% for the first time since 1954.

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The Central Bank of Sri Lanka (CBSL) said this increase in Y-o-Y inflation was driven by the monthly increases in both Food and Non-Food categories.

Accordingly, Food inflation (Y-o-Y) increased to 80.1% in June 2022 from 57.4% in May 2022, while Non-Food inflation (Y-o-Y) increased to 42.4% in June 2022 from 30.6% in May 2022.