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NCPI based headline inflation decelerated to 70.6% in October 2022 on year-on-year basis reversing its increasing trend observed since October 2021

Headline inflation, as measured by the year-on-year (Y-o-Y) change in the National Consumer Price Index (NCPI, 2013=100) which followed an increasing trend since October 2021, declined to 70.6% in October 2022 from 73.7% in September 2022. Similarly, the Food inflation (Y-o-Y) decreased to 80.9% in October 2022 from 85.8% in September 2022, while Non-Food inflation (Y-o-Y) decreased to 61.3% in October 2022 from 62.8% in September 2022.

SL Purchasing Managers’ Index (PMI) – October 2022

Manufacturing PMI declined in October 2022, indicating a contraction in manufacturing activities on a month-on-month basis. Accordingly, Manufacturing PMI recorded an index value of 38.4 in October 2022, with a decline of 4.2 index points from the previous month, driven by decreases recorded in all the sub-indices.

Release of “Sri Lanka Socio Economic Data – 2022” Publication

“Sri Lanka Socio Economic Data – 2022”, the annually published data folder of the Central Bank of Sri Lanka, is now available for public information. The current data folder is the 45th volume of the series.

This easy-to-carry booklet contains information categorised under 14 topics, namely, Country Profile; Key Economic Indicators; Country Comparisons; Socio Economic Conditions; Human Resources; National Accounts; Agriculture; Industry; Economic and Social Infrastructure; Prices and Wages; External Trade and Tourism; External Finance; Government Finance; and Money, Banking and Finance. As the data folder presents a wide range of socio economic data of current interest in summary form, it will be a very useful reference material for policy makers, researchers, academics, professionals, students and the general public.

The Central Bank publishes 'Recent Economic Developments: Highlights of 2022 and Prospects for 2023'

The Central Bank of Sri Lanka today published “Recent Economic Developments: Highlights of 2022 and Prospects for 2023”. The publication can be downloaded via the Central Bank Website in Sinhala, Tamil and English languages.

External Sector Performance - September 2022

Earnings from exports remained robust in September 2022, while import expenditure declined for the seventh consecutive month, on a year-on-year basis, reflecting the significant reduction in imports of non-food consumer goods and investment goods. As a result, the merchandise trade deficit recorded a notable contraction in September 2022, (y-o-y). Workers’ remittances increased marginally in September 2022, (y-o-y). Earnings from tourism recorded an increase in September 2022, compared to the same period in 2021. Foreign investment in the government securities market and the Colombo Stock Exchange (CSE) recorded a notable net inflow during September 2022. The Central Bank continued to provide forex liquidity to finance essential imports, exhausting the liquid level of gross official reserves. Meanwhile, the weighted average spot exchange rate in the interbank market remained around Rs. 362 per US dollar during the month.

CCPI based headline inflation recorded 66.0% in October 2022, reversing its continued increasing trend observed since October 2021

Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2013=100) which followed an increasing trend since October 2021, declined to 66.0% in October 2022 from 69.8% in September 2022. Following a similar trend, the Food inflation (Y-o-Y) decreased to 85.6% in October 2022 from 94.9% in September 2022, while the Non-Food inflation (Y-o-Y) decreased to 56.3% in October 2022 from 57.6% in September 2022.

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