COLOMBO, Dec. 21 (Xinhua) — Sri Lanka’s inflation based on the National Consumer Price Index (NCPI) increased to 2.8 percent in November from 1 percent reported in October, the Department of Census and Statistics said on Thursday.
The department said inflation of the food category rose from -5.2 percent to -2.2 percent during the period, while the inflation of the non-food category gained from 6.3 percent to 7.1 percent.
The NCPI has been released monthly from October 2015 with a time lag of 21 days, reflecting new methods consistent with international best practices.
State Minister of Finance Ranjith Siyambalapitiya said that Sri Lanka’s inflation is expected to rise to 5 percent next year after the government raises the value-added tax (VAT) to 18 percent from January 2024.
