The latest economic report by the Census & Statistics Department unveils a notable uptick in the overall rate of inflation, measured by the Colombo Consumer Price Index (CCPI).
On a year-on-year basis, the inflation rate rose to 4.0% in December 2023, up from 3.4% in the preceding month of November.
One of the key contributors to this overall increase is the surge in food inflation, as reported by the Census & Statistics Department. In December 2023, food inflation witnessed a substantial rise, climbing to 0.3%, a significant shift from the -3.6% recorded in November 2023.
These figures highlight the dynamic nature of economic indicators and the impact on consumer prices, prompting stakeholders to closely monitor and adapt to evolving market trends. As the year concludes, the report offers insights into the economic landscape and sets the stage for discussions on fiscal policies and strategies in the coming months.
