Sri Lanka witnesses its worst inflation in June

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Nationwide Inflation in Sri Lanka accelerated 58.9 per cent year-on-year in June, recording the worst inflation the country has witnessed in its history with both food and non-food inflation breaking records.

According to the Department of Census and Statistics, Sri Lanka’s inflation galloped from 45.3 per cent recorded in May this year to 58.9 per cent in June.

Food inflation during June this year accelerated 75.8 per cent year-on-year from 58 per cent in May, while non-food inflation jumped to 43.6 per cent from 34.2 per cent.

The 12-month moving average inflation in June accelerated to 20.8 per cent from 16.3 per cent in May as food inflation increased to 28.8 per cent from 23.1 per cent a month earlier and non-food inflation accelerating to 13.9 per cent from 10.5 per cent.

The National Consumer Price Index expanded to 231.5 index points in June from 208.7 index points in May, which represents an increase in expenditure value of Rs 7,320.70 in the ‘Market Basket’.

On a year-on-year basis, the contribution of food commodities to inflation was 36.05 per cent in June 2022 compared to that of June 2020, while the contribution from non-food items was 22.87 per cent.

By Mario Andree