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Inflation in July 2019

Headline inflation as measured by the year-on-year change in the National Consumer Price Index (NCPI, 2013=100)  increased marginally to 2.2 per cent in July 2019 from 2.1 per cent in June 2019 due to the monthly increases of prices of items in both Food and Non-food categories. Meanwhile, in July 2019, year-on-year Food and Non-food inflation recorded -2.5 per cent and 6.1 per cent respectively. 

President confers the “Deshamanya” title on Dr. Indrajit Coomaraswamy, Governor of the Central Bank of Sri Lanka

On 19th August 2019, President Maithripala Sirisena conferred “National Honours” on distinguished personalities for the outstanding and invaluable service rendered by them to the Motherland.

Dr. Indrajit Coomaraswamy, Governor of the Central Bank of Sri Lanka along with five other distinguished personalities were conferred the title of “Deshamanya” by the President.

“Deshamanya” is the second-highest national honour awarded by the Government of Sri Lanka as a civil honour. It is awarded in recognition of the exceptional and highly meritorious service to the nation.

External Sector Performance - June 2019

Sri Lanka’s external sector strengthened further in June 2019 with a marked contraction in the trade deficit while gross official reserves were augmented with the proceeds of the issuances of two international sovereign bonds (ISBs).

In June 2019, the trade deficit narrowed to US dollars 316 million, the lowest since October 2010.

Sri Lanka Purchasing Managers’ Index - July 2019

Manufacturing activities expanded further at a higher ratein July 2019,recordingan index value of 55.7 which is an increase of 1.8 index points, compared to June 2019. This expansion in manufacturing PMI is mainly attributable to the significant increase in New Orders and subsequent increase in Production, especially, in manufacturing of food & beverages sector. The increase in new orders was mainly due to the gradual recovery of the economy from disruptions related to Easter Sunday attacks. Meanwhile, Employment increased at a slower rate during the month of July although many respondents in the textile and apparel industry highlighted that they experienced higher rate of labour turnover during the month.

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