It is with deep sorrow that we announce the demise of former Governor of the Central Bank of Sri Lanka (CBSL), Mr. H.B. Dissanayake.

He passed away at the age of 85 on the 05th of March 2023.

Mr. Dissanayake functioned as the 09th Governor of the CBSL from 1 July 1992 to 15 November 1995. Prior to assuming duties as Governor, he served as Director General of Customs and after retiring from the CBSL, he served as Alternate Executive Director at the International Monetary Fund (IMF) from 1996 -1998.

Mr. H.B. Dissanayake’s remains lie at his home (No. 2/84, Mihiri Uyana, Old Kottawa Road, Mirihana, Nugegoda) until 01.00 p.m. on 07th of March (today) and the cremation will be at the Public Cemetery, Mirihana.

Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2021=100)  decreased to 50.6% in February 2023 from 51.7% in January 2023. The decline in the headline inflation is broadly in line with the disinflation path envisaged by the Central Bank of Sri Lanka (CBSL) in January 2023.

The Food inflation (Y-o-Y) decreased to 54.4% in February 2023 from 60.0% in January 2023, whereas the Non-Food inflation (Y-o-Y) increased to 48.8% in February 2023 from 47.9% in January 2023. Monthly change of CCPI recorded at 0.47% in February 2023 due to price increases observed in items of Non-Food category, which was 1.20%. However, the Food category recorded a monthly decline of 0.74%. The core inflation (Y-o-Y), which reflects the underlying inflation in the economy, decreased to 43.6% in February 2023 from 45.6% in January 2023.