Sri Lanka set a record by reducing the prices of all products
October 2, 20241 Min Read

International desk: Sri Lanka, plagued by economic crisis, has set an unprecedented record in the reduction of product prices . The government report released on Monday (September 30) showed that the overall inflation rate in the country last September was only 0.5 percent. As a result, the prices of all kinds of products have started to decrease. which is still ongoing. News from AFP

The last time such a negative rate of inflation was seen was in 1995. The inflation rate in Sri Lanka fell to 0.9 percent that year. Before that, in 1985, this rate fell to 2.1 percent. As such, the current rate of inflation is definitely the first time in Sri Lanka's 76-year history since the British colonial rule in 1948.

On the other hand, a report by the Department of Census and Statistics showed that food and non-food expenditure decreased in September due to price contraction. However, 2 years ago, Sri Lanka's inflation had risen abnormally to 69.8 percent.