Sri Lanka's foreign Reserves increase to USD 6,462 M

In terms of inflation, Sri Lanka is experiencing an ongoing deflationary trend. The National Consumer Price Index (NCPI) based on the 2021=100 base year showed a deflation of 1.7% in November 2024, marking the third consecutive month of negative inflation. This follows a deflation of 0.7% recorded in October 2024.

Notably, the prices in the Food category remained unchanged year-on-year, while the Non-Food category recorded a deflation of 3.1%. The decline in prices across the Non-Food segment suggests continued easing of inflationary pressures.

Central Bank Governor Dr. Nandalal Weerasinghe had previously projected that inflation would stabilize around 4-5% by mid-2025, indicating a gradual recovery for the economy.