COLOMBO, Sept. 30, 2024 — The Department of Census and Statistics has released the Colombo Consumer Price Index (CPI) for September 2024, showing a significant decline in inflation. The Consumer Inflation Rate for the Colombo Metropolitan area has dropped to -0.5%, marking a stark contrast to the 0.5% reported in August 2024.
Food inflation saw a notable decrease, falling to -0.3% in September compared to 0.8% in August. Similarly, non-food inflation eased to -0.5%, down from 0.4% in the previous month.
This marks the first time in 2024 that inflation has dipped into negative territory, signaling a deflationary trend in the Colombo urban area. This development is likely due to a combination of factors, including reduced consumer demand and adjustments in food and non-food prices.
More detailed reports and analysis will be available in the official release by the Department of Census and Statistics.
