Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2021=100) increased to 6.4% in January 2024 from 4.0% in December 2023. This increase in the headline inflation is mostly in line with the projections envisaged by the Central Bank of Sri Lanka (CBSL).
The Food inflation (Y-o-Y) increased to 3.3% in January 2024 from 0.3% in December 2023, while the Non-Food inflation (Y-o-Y) increased to 7.9% in January 2024 from 5.8% in December 2023. Monthly change of CCPI recorded 2.87% in January 2024 due to the price increases of 1.21% observed in the items of Food category and 1.66% observed in the items of Non-Food category. Meanwhile, the core inflation (Y-o-Y), which reflects the underlying inflation in the economy, increased to 2.2% in January 2024 from 0.6% in December 2023.