According to the year-over-year change, Sri Lanka’s inflation rate for June 2023 was 10.8% based on the National Consumer Price Index (NCPI).
According to the Department of Census and Statistics’ (DCS) most recent data, this represents a modest decrease from the headline inflation rate of 22.1% observed in May 2023.
The month-over-month changes in the NCPI (June 2023 against May 2023) were caused by rises in food items of 0.44% and decreases in non-food items of 0.3%, respectively.
jAccording to the DCS study, higher price levels were prevalent in both the food and non-food classes in June 2023 as compared to June 2022, which was why there was a recorded increase in inflation.
However, on a monthly basis, the food group’s year-over-year inflation rate has decreased from 15.8% in May 2023 to 2.5% in June 2023.
The non-food group’s year-over-year inflation, meanwhile, dropped from 27.6% in May 2023 to 18.3% in June 2023.
Comparing June 2023 to June 2022, the contribution of food commodities to inflation was 1.21% on an annual basis.
