WEB DESK
Inflation under the National Consumer Price Index declined to 53.2% for the month of January 2023 in Sri Lanka. The inflation for December 2022 was 59.2 percent. Food products contributed to 53.6 percent while non food group contributed 52.9 percent. The inflationary pressure in comparison from previous year is linked to the printing of money by the central bank of Sri Lanka and the resultant devaluation of Rupee.
The Lankan Rupee devalued over 80 percent in the forex markets over the last 10 months.