The Central Bank’s latest data shows headline inflation, measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2021=100), remained in negative territory for a second consecutive month.
October 2024 recorded a deflation rate of 0.8%, following a 0.5% deflation in September 2024. The non-food category saw an even steeper decline, with Y-o-Y deflation increasing to 1.6% in October from 0.5% in September.
In contrast, the food category moved from deflation to inflation, rising by 1.0% in October compared to a 0.3% deflation in the prior month.
