Sri Lanka's key inflation index up 8.3% year-on-year in October
- Colombo's inflation hit 8.3% in October, with food prices up 8.8% and non-food 8%, continuing a concerning trend fueled by rising energy expenses
Sri Lanka’s Colombo Consumer Price Index rose 8.3% year-on-year in October, after an 8% rise last month, the Statistics Department said on Friday.
The index, a leading indicator for broader national prices, tracks inflation in Sri Lanka’s capital.
Food inflation rose to 8.8% in October, from 8.7% year-on-year last month
The non-food category was 8%, compared with 7.7% last month, the latest data showed.
Sri Lankan CG advocates for a proactive approach to trade
Sri Lanka’s inflation has been growing at a three-year high since July, largely due to increasing energy costs from the Iran war.
The Central Bank of Sri Lanka has set an inflation target of 5% and expects inflation to gradually ease after next March but has kept rates unchanged after an unexpected 100 bps increase in May.
Sri Lanka will present its budget for 2027 on November 12.
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