Sri Lanka’s economic turmoil reduces inflation.
- Food and gasoline shortages eased in October, slowing inflation in Sri Lanka for the first time in a year.
- The statistics department said Monday that Colombo’s consumer price index fell 66% year-over-year. In September, 69.8%
- Sri Lanka’s monetary authorities welcomed the statistics, expecting inflation to peak this month. After raising borrowing costs by 9.5 percentage points this year, the Central Bank of Sri Lanka has held the benchmark rate at 15.5% for two sessions.
- November 24 is monetary policy review day.