July 31, 2023 7:13 PM

Sri Lanka's key inflation rate nearly halves to 6.3% in July from 12% June 2023

Sri Lanka's key inflation rate nearly halved to 6.3% in July from 12% last month. The island nation’s statistics department released the numbers for Colombo district earlier today. This is the first instance where inflation has dropped to single digits in over a year since the crisis hit Indian Ocean island. Tight monetary and fiscal policy measures are being attributed to the attainment of Central Bank’s self-imposed target of 6%. In addition, in February this year, the government chan...