Inflation: Sri Lanka shows stability

Global Inflation Watch for June 2024 says that Turkey leads with a staggering 71.6%, followed by Venezuela at 51.4% and Nigeria at 33.95%. The staggering rise of consumer prices and the collapse of the Turkish lira are deemed responsible for this.

On the lower end, Sri Lanka shows stability at around 1.7%, Bartleet Religare Securities (Pvt) Ltd said.

On-year-on-year basis, National Consumer Price Index (NCPI) (2021=100) based headline inflation decelerated to 1.6 per cent in May 2024 from 2.7 per cent in April 2024. Food inflation recorded 0.5 per cent, while Non-Food inflation recorded 2.4 per cent.