Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2021=100) decelerated to 0.9% in May 2024 from 1.5% in April 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) decelerated to 0.0% in May 2024 from 2.9% in April 2024.

Nevertheless, Non-Food inflation (Y-o-Y) accelerated to 1.3% in May 2024 from 0.9% in April 2024.