COLOMBO, Aug. 30 (Xinhua) -- Headline inflation, as measured by the year-on-year change in the Colombo Consumer Price Index, has dropped to 0.5 percent in August from 2.4 percent in July, Sri Lanka's Department of Census and Statistics said on Friday.
The department said the inflation in the food category dropped to 0.8 percent in August from 1.5 percent in July, whereas the non-food category inflation decreased to 0.4 percent from 2.8 percent.
However, the department said that the general price level increased by 91.1 percent in August 2024, compared to 2021, the index reference year.
Inflation was at 69.8 percent in September 2022, when the South Asian country experienced an economic crisis.
The headline inflation is expected to be below the target in the forthcoming months and reach the 5 percent target with appropriate policies in the medium term, the Central Bank said in its recent report. ■