Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2021=100) decelerated to 5.9% in February 2024 from 6.4% in January 2024. This deceleration in the headline inflation is broadly in line with the projections of the Central Bank of Sri Lanka (CBSL).

Food inflation (Y-o-Y) accelerated to 3.5% in February 2024 from 3.3% in January 2024, whereas Non-Food inflation (Y-o-Y) decelerated to 7.0% in February 2024 from 7.9% in January 2024. Monthly change of CCPI recorded -0.05% in February 2024 due to the combined effect of price decreases of 0.67% observed in the items of Food category and price increases of 0.62% observed in the items of Non-Food category. Meanwhile, core inflation (Y-o-Y), which reflects the underlying inflation trends in the economy, accelerated to 2.8% in February 2024 from 2.2% in January 2024.

Central Bank of Sri Lanka (CBSL) has taken note of recent news reports in the media on comments and remarks attributed to some Members of Parliament at recent proceedings of the House with regard to the latest revision of remuneration of employees of the CBSL that were approved by the Governing Board under the triennial Collective Agreement entered into with the Trade Unions covering the period 2024- 2026.