COLOMBO, Oct. 30 (Xinhua) -- Sri Lanka's overall inflation rate, measured by the Colombo Consumer Price Index (CCPI) on a year-over-year basis, dropped to -0.8 percent in October, down from -0.5 percent in September, according to the latest data released Wednesday by the Department of Census and Statistics.
Data shows food inflation rose to 1.0 percent in October, up from -0.3 percent in September. Meanwhile, year-over-year inflation in the Non-Food category decreased to -1.6 percent in October, from -0.5 percent in the previous month.
In September 2022, inflation surged to 69.8 percent as the South Asian nation faced an economic crisis.
The Sri Lankan Central Bank, in its recent report, indicated that headline inflation is expected to remain below target in the coming months and reach the 5 percent target in the medium term with appropriate policies. ■
