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November 29, 2024 7:23 PM

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Sri Lanka’s inflation drops to -2.1% in November 2024

In Sri Lanka, Inflation as measured by the Colombo Consumer Price Index on a year-on-year basis, decreased to minus 2.1% in November 2024. Sri Lanka’s Department of Census and Statistics reported that the decrease was compared to the -0.8% recorded in October 2024. Earlier this week, Central Bank of Sri Lanka had said that the inflation rate in the island is expected to remain in negative territory until mid 2025, due to the stance maintained in monetary policy. It also said that in medium term, inflation is expected to remain in the target range of 3-5%. Sri Lanka had witnessed run away inflation in 2022, effects of which are seen even today.