COLOMBO, Aug. 3 (Xinhua) -- Sri Lanka's inflation will fall further in August 2023 and then stabilize between 4 percent and 6 percent, Director of the Central Bank's Economic Research Department P. K. G. Harischandra told journalists on Thursday.
He said that inflation in July had dropped to 6.3 percent.
This will further drop due to policies that the government and Central Bank has taken, he said.
Harischandra added that the country's gross domestic product (GDP) growth is expected to be positive in the second, third and fourth quarters of 2023.
However, given that the economy contracted significantly in the first quarter of 2023, it is unlikely that the GDP growth will be positive this year, he said.
The GDP growth will be positive in 2024, he said.
Sri Lanka's inflation has been dropping steadily since September 2022 when the Colombo Consumer Price Index recorded inflation at 69.8 percent. ■
