Sri Lanka’s inflation pace slowed for the fourth month in May on record gains in the local currency and improving food and fuel supplies, increasing the likelihood the central bank will stand pat on rates at a policy review on Thursday.
The consumer price index in Colombo rose 25.2% from a year ago, the Statistics Department said Wednesday, slower than a Bloomberg survey estimate of a 26.9% gain. It also compares with a 35.3% rise in April based on a revised index and shows some momentum toward the central bank’s goal of single-digit inflation by end-2023.
Read More : Sri Lanka’s Inflation Decelerates Once Again in May Ahead of Rate Meeting