Inflation down sharply to 12% in June

30 June 2023 04:22 pm Views - {{hitsCtrl.values.hits}} 16 Bookmark

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Sri Lanka’s official headline inflation as measured by the Colombo Consumer Price Index (CCPI) on a year-on-year (YoY) basis eases to 12 percent in June, largely on higher base effects, last year.

The inflation reading in the month of May was 25.2 percent.

The food inflation in June plunged to 4.1 percent from 21.5 percent in May while non-food inflation decelerated to 16.2 percent from 27 percent.

Sri Lanka’s inflation has been coming down sharply from April largely due to higher base effects, last year, and also due to improvements seen in the country’s domestic foreign exchange market amid increased tourism and remittances inflows.

Comments - 16

Nimal Silva Friday, 30 June 2023 04:46 PM

Egg is still sold at 55Ruppes Munchee/Maliban cracker 500G at 430 rupees... now rest the people will understand.

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Suhada malli Friday, 30 June 2023 04:52 PM

Nothing new has been done at a fiscal level to grow the country. The central bank overlooks macro aspects or monetary policy aspects which has largely contributed to the recovery. The next danger to battle will be a steep increase in the gap between haves and have nots. An ideal environment for the so called socialists marxists parties to create dissent and start rebellions. NEver the less, this govt and president is doing a decent job of steadying the country, a bit more speed to get a good growth plan off the ground should be a focus specially considering the 120 seat majority in parliament which may not be there after elections.

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Curse Friday, 30 June 2023 04:56 PM

What an eye wash!!! These are numbers shown to beg again!!!! Go out to the street and buy stuff then pll living in this banana Republic will know!!!!

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Sivalingam Friday, 30 June 2023 05:10 PM

Market price of food is still sky high, infatuation index of crap.

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Born again Friday, 30 June 2023 05:11 PM

Buying a kottu has become a luxury, paster ERAN predicted this.

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Kabir Hashim Friday, 30 June 2023 05:13 PM

Nandalal shop maybe having food at low price.

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Gamaya Friday, 30 June 2023 05:16 PM

Inflation goes down but I dont see a big change in the prices of essentials.

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Lion Friday, 30 June 2023 07:34 PM

This is all bullshit , figures can’t hide the actual truth, go to the market and see for your self

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Sam Silva Saturday, 01 July 2023 03:02 AM

But our people are staying in line to have the buffet. Seems they don't have much issues with the inflation and life goes on.

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maha Friday, 30 June 2023 08:17 PM

This is Govt/ CB figure, what is real inflation in the country? ?

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roni Friday, 30 June 2023 08:25 PM

Rubbish .Whoever complies these figures should go and see the prices of food stuff on the selves. Previously an Accounting technician complied this data. Not difficult the RESULT is fixed all what is needed is either the Numerator or Dominator. Extracted from the vaults of SLCB.

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Gamini Saturday, 01 July 2023 01:00 AM

This inflation index is a big farce. They should compare this using a standard date. Lanka June 2023 inflation was 54.6. That means if one spent Rs. 100 in June 2021, he paid Rs. 154.6 in June 2022. A 12% increase this June means he now pays Rs. 173 (154.6 x (100 12)) for the same good in that was Rs 100 in June 2021. Theoretically next month it will be much lower as July 2021 had a value of 60.8%.

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KP Saturday, 01 July 2023 03:22 AM

People who comment here please understand what base effect means. Inflation is the change in price today compared to the price last year. So if the egg stays at Rs 50something, inflation is low because the price of eggs hasn’t increased much compared to this time last year. Low inflammation doesn’t mean the egg has to reduce in price.

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KD Saturday, 01 July 2023 07:27 AM

Boy are people clueless. Ranil and Nandalal have a done a miraculous job of controlling inflation down to 12%. If not for then, we could easily still be seeing 100%-200% inflation like other failed states (Lebanon, Zimbabwe, Argentina) for months and years...People complaining that prices havent come down dont understand that to see that you need to see negative inflation which will almost never happen. Get used to the new price levels and stop complaining. Be grateful that your biscuit isnt 1400 instead of 430.

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Citizen k Saturday, 01 July 2023 08:57 AM

Every time I read that inflation is down, I go to the market with a song on my lip and come back home deflated because the prices are the same or more.I would dearly love to accompany the team that compiles these figures to the market.Prices must come down on all the goods.

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Cherath Saturday, 01 July 2023 02:08 PM

Inflation is the rate at which the price of goods have increased between two points of time. So if the rate of inflation in May was 25.2% and the inflation in June was 12%, the prices have increased by 12% to what it was in May. The crucial point here is that inflation means 'rate of increase', not the 'increase' itself. If the prices remained the same between May and June it would be 0% inflation!

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