SANN NewsSri Lanka’s inflation rate climbed to 6.4 percent in January. The Census and Statistics Department DCS announced on Wednesday that the inflation rate in December 2023 was 4%. According to the most recent DCS update, food inflation climbed from 0.3 percent in December 2023 to 3.3 percent in January. Non-food inflation climbed from 5.8% in December to 7.9% in January. According to DCS, inflation has been driven primarily by housing, water, energy, gas, education, clothing, alcoholic beverages, tobacco and narcotics, entertainment and culture, other goods and services, and health. Since September 2022, Sri Lanka’s inflation rate has consistently decreased. In the beginning of in January, Central Bank Governor Nandalal Wirasinghe stated that inflation in Sri Lanka could rise by 7% due to an increase in vegetable prices caused by a value-added tax hike and supply-side concerns.
