Sri Lanka’s headline inflation eases for the second consecutive month in November 2022

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Sri Lanka's headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2013=100)1 decreased to 61.0 per cent in November 2022 from 66 per cent in October 2022.

Following a similar trend, the Food inflation (Y-o-Y) decreased to 73.7 per cent in November from 85.6 per cent in October while the Non-Food inflation (Y-oY) decreased to 54.5 per cent in November from 56.3 per cent in October, the Central Bank announced today (Wednesday).

The decline in the monthly change of the CCPI observed in October 2022 continued in November recording 0.50 per cent. This was mainly contributed by the monthly decreases of the prices of the items in the Food category. Accordingly, within the Food category, significant decreases were observed in prices of Chicken, Fresh Fish and Dry Fish. However, prices of Milk Powder increased during the month. Meanwhile, annual average inflation rose to 42.6 per cent in November from 38.3 per cent in October.

The core inflation (Y-o-Y), which reflects the underlying inflation in the economy decreased to 49.4 per cent in November from 49.7 per cent in October while annual average core inflation increased to 31.4 per cent in November from 27.8 per cent in October.

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