Poverty cut-off point remains unchanged
By Paneetha Ameresekere
Sri Lanka’s monthly poverty cut-off point remained unchanged at Rs 5,050 per mensem per person last month (August) over July, the Census and Statistics Department said yesterday (16).
This means that a person had to earn a minimum of Rs 5,050 per mensem last month to be regarded as being non-poor.
Nonetheless, since Sri Lanka last carried out its poverty census four years ago in 2016, the monthly poverty cutoff point has risen from Rs 4,166 to Rs 5,050, an increase of Rs 884 (21.22 per cent). In 2016, 843,913 of the population, equivalent to 4.1% of the population, were in poverty.
In related developments, food inflation in July continued to be in double digits for the 17th consecutive month, though decelerating to 12.9% year-on-year (YoY), from 13.6% in June.
Overall inflation decelerated to 6.1% YoY in July, from 6.3% in June.