Ramsco's Women Empowerment Initiative Recognized Among Top BRICS Businesswomen Practices for 2025    Egypt, Elsewedy review progress on Ain Sokhna phosphate complex    Gold prices end July with modest gains    Pakistan says successfully concluded 'landmark trade deal' with US    Egypt's FM, US envoy discuss Gaza ceasefire, Iran nuclear talks    Modon Holding posts AED 2.1bn net profit in H1 2025    Egypt's Electricity Ministry says new power cable for Giza area operational    Egypt's Al-Sisi, Italian defence minister discuss Gaza, security cooperation    Egypt's FM discusses Gaza, Nile dam with US senators    Aid airdrops intensify as famine deepens in Gaza amid mounting international criticism    Health minister showcases AI's impact on healthcare at Huawei Cloud Summit    On anti-trafficking day, Egypt's PM calls fight a 'moral and humanitarian duty'    Federal Reserve maintains interest rates    Egypt strengthens healthcare partnerships to enhance maternity, multiple sclerosis, and stroke care    Egypt keeps Gaza aid flowing, total tops 533,000 tons: minister    Indian Embassy to launch cultural festival in Assiut, film fest in Cairo    Egyptian aid convoy heads toward Gaza as humanitarian crisis deepens    Culture minister launches national plan to revive film industry, modernise cinematic assets    Rafah Crossing 'never been closed for one day' from Egypt: PM    I won't trade my identity to please market: Douzi    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt's EHA, Huawei discuss enhanced digital health    Egypt, Oman discuss environmental cooperation    Egypt's EDA explores pharma cooperation with Belarus    Foreign, housing ministers discuss Egypt's role in African development push    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Sri Lanka slashes inflation to 2.5% in March
Published in Amwal Al Ghad on 22 - 04 - 2024

Sri Lanka's consumer price inflation dropped significantly to 2.5 per cent in March, Reuters reported on Monday, citing an official,
This represents a welcome decline from 5.1 per cent in February and offers a glimmer of hope for the nation's ongoing economic recovery.
This positive development is attributed to the receding impact of a sales tax hike implemented to meet targets set under a $2.9-billion loan programme with the International Monetary Fund (IMF).
The National Consumer Price Index (NCPI) serves as a key indicator of inflation and reflects a 21-day lag in reporting.
March's decline was primarily driven by a 22 per cent reduction in electricity tariffs for households. This measure significantly lowered non-food inflation to a mere 0.7 per cent compared to 5.1 per cent in February.
However, food prices stayed unchanged at 5 per cent year-on-year in March compared to February, suggesting a potential area for future focus.
Analysts remain cautiously optimistic. Shehan Cooray, head of research at Acuity Stockbrokers, expressed hope that inflation will stay below the targeted 5 per cent level for the next three months.
The World Bank recently upgraded its 2024 growth forecast for Sri Lanka by 0.5 per cent, now projecting a 2.2 per cent expansion.
Analysts like Cooray believe the actual growth could be higher, potentially reaching three per cent, citing the strong performance of the last quarter of 2023 (4.5 per cent growth).
The Central Bank of Sri Lanka (CBSL) has also taken action to stimulate economic growth through policy rate cuts. Since last year, rates have been lowered by 700 basis points in an effort to encourage investment and spending.


Clic here to read the story from its source.