Headline inflation drops sharply in April 2023

COLOMBO (News 1st) - The Year-on-Year overall headline inflation has decreased to 35.3% in April 2023.

The headline inflation reported in April has decreased from 50.3% reported in March. 

The lower level of realised inflation compared to the projections made, was mainly due to higher than expected price decreases observed in Volatile Food and Non-Food items.

The Year-on-Year core inflation decreased to 27.8% in April from 39.1% reported in March.

Food inflation has decreased to 30.6% in April from 47.6% in March, while non-food inflation decreased to 37.6% in April from 51.7% in March.

The anticipated declining trend of inflation is expected to continue through 2023, bringing down the prevailing high inflation towards single digit levels by late 2023, the Central Bank of Sri Lanka said in a release.