Sri Lanka sees inflation rise to 2.4 per cent in July

Colombo: Headline inflation, as measured by the year-on-year change in the Colombo Consumer Price Index has increased to 2.4 per cent in July from 1.7 per cent in June, Sri Lanka's Department of Census and Statistics said on Wednesday.

The department said the inflation in the food category increased from 1.4 per cent to 1.5 per cent whereas the non-food category inflation rose from 1.8 per cent to 2.8 per cent.

Based on available data, inflation is expected to remain below the target of 5 per cent in the near term, said the Central Bank of Sri Lanka in June.

Inflation was at 69.8 per cent in September 2022 when the South Asian country experienced an economic crisis, Xinhua news agency reported.