Inflation in Sri Lanka dipped marginally for the first time in 12 months, but prices were still an eye-watering 66% higher than a year ago, official data showed yesterday (31 October).
The Department of Census and Statistics data showed October inflation was nearly four percentage points lower than the record 69.8% in September.
Food inflation, which had also reached a record high for the 12th consecutive month in September at 94.9%, moderated to 85.6% in October.
The department did not give reasons for the slowdown in inflation, but authorities had reduced fuel prices twice in October, cutting prices by 20%.
Sharp price increases for both food and fuel has led to a drop in demand, and queues for petrol and diesel, and cooking gas have sharply reduced in recent weeks.
(AFP)
Inflation drops for first time in a year
01 Nov 2022
Inflation drops for first time in a year
01 Nov 2022
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