Sri Lanka's key inflation rate eases to 25.2%

Sri Lanka's key inflation rate eases to 25.2% in May

by Staff Writer 01-06-2023 | 8:47 AM

COLOMBO, May 31 (Reuters) - Sri Lanka's key inflation rate eased to 25.2% in May from 35.3% in April, the statistics department said on Wednesday, reducing some stress on the crisis-hit economy.

Soaring inflation has battered the economy for more than a year after a severe foreign exchange crisis set off the Indian Ocean island's worst financial crisis in seven decades.

The Colombo Consumer Price Index (CCPI) reflected a reduction in food inflation to 21.5% in May from 30.6% in April, while non-food inflation reached 27%, the Census and Statistics Department said in a statement.