Inflation & Prices
Sri Lanka Inflation Eases Further in July Providing Reprieve
- Retail prices hit single digits first time in 20 months
- Further cuts in borrowing cost likely to support recovery
A vegetable and fruit market in Colombo, Sri Lanka.
Photographer: Thilina Kaluthotage/BloombergThis article is for subscribers only.
Sri Lanka’s inflation pace reached single digits for the first time in 20 months, setting the stage for the central bank to slash borrowing costs further to support recovery.
The consumer price index in Colombo rose 6.3% from a year ago in July, the Statistics Department said on Monday. That compares with a Bloomberg survey estimate of a 7.5% gain and a 12% rise in June. Retail prices were in single digits last in November 2021, according to data compiled by Bloomberg.