Sri Lanka’s inflation rate, as measured by the National Consumer Price Index (NCPI) on a Year-on-Year (YoY) basis, declined to -2.0% in December 2024, compared to -1.7% in November 2024, according to the latest figures released by the Department of Census and Statistics.
Breaking down the data, the YoY inflation for the food group fell to -1.0% in December 2024, a decrease from 0.0% in November 2024. Conversely, the YoY inflation for the non-food group rose slightly, reaching -2.9% in December 2024, up from -3.1% in November 2024.
The decline in overall inflation reflects continuing trends in consumer prices, with notable deflation observed in both food and non-food categories.
