As a result of declining food costs, Sri Lanka’s consumer price inflation rate decreased from 4.6% in July to 2.1% in August, according to data released on Thursday by the statistics department.
The National Consumer Price Index (NCPI), which is produced each month with a 21-day lag, measures overall retail price inflation.
In the second quarter, the economy of Sri Lanka contracted by 3.1%.
After falling 2.5% in July, food costs fell 5.4% in August from a year earlier, according to a statement from the Department of Census and Statistics.
However, the cost of non-food items increased 9% in August after increasing 10.9% in July.
