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Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2021=100)1 decreased to 1.3% in September 2023 from 4.0% in August 2023.
Food deflation (Y-o-Y) continued for the third consecutive month, recording 5.2% in September 2023 from 4.8% in August 2023. Meanwhile, the Non-Food inflation (Y-o-Y) decreased further to 4.7% in September 2023 from 8.7% in August 2023.
As envisaged, inflation is expected to stabilise around mid-single digit level over the medium term, aided by appropriate policy measures alongside well-anchored expectations.
