Inflation rate in Sri Lanka rose to 3.4 percent year-on-year in August of 2019, up from a 3.3 percent increase in the previous month, as non-food prices rose faster (6.2 percent vs 5.9 percent in July). Among non-food, cost grew for housing & utilities (3.9 percent vs 3.8 percent); transport (6.9 percent vs 5.4 percent); clothing & footwear (8.8 percent vs 8.2 percent) and recreation & culture (5.4 percent vs 3.6 percent). Meanwhile, food and non-alcoholic beverages cost dropped further (-2.8 percent vs -2.6 percent). On a monthly basis, consumer prices went up 0.1 percent, rebounding from a 0.2 percent drop in the prior month. Inflation Rate in Sri Lanka averaged 9.36 percent from 1986 until 2019, reaching an all time high of 28.30 percent in June of 2008 and a record low of -0.90 percent in March of 1995.
Inflation Rate in Sri Lanka is expected to be 4.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Sri Lanka to stand at 4.60 in 12 months time. In the long-term, the Sri Lanka Inflation Rate is projected to trend around 6.00 percent in 2020, according to our econometric models.