Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2013=100) decreased to 57.2% in December 2022 from 61.0% in November 2022 recording the lowest reading in the second half of 2022. Following a similar trend, the Food inflation (Y-o-Y) decreased to 64.4% in December 2022 from 73.7% in November 2022. Meanwhile, the Non-Food inflation (Y-o-Y) decreased to 53.4% in December 2022 from 54.5% in November 2022. 

Western province, which is the epicentre to majority of the key activities of the Sri Lankan economy, continued to be the largest contributor to the national output representing 42.6 per cent of the nominal GDP (base year 2015) in 2021, with a marginal increase in its share on year-on-year basis.  North Western (11.1 per cent) and Central (10.1 per cent) provinces recorded second and third highest shares, respectively.

Contribution to nominal GDP from Western, Sabaragamuwa and North Western provinces increased in 2021 compared to 2020, while that of Southern, Northern and Uva provinces remained unchanged. However, contributions  from Central, Eastern and North Central provinces  decreased marginally in 2021.