Colombo Consumer Price Index indicates inflation to remain at 50.3% in March

High inflation levels continue to plague Sri Lanka, with the Colombo Consumer Price Index indicated inflation to remain at 50.3 percent in March 2023.

This was seen as a marginal reduction from 50.6 percent in February. Despite monetary and fiscal policy tightening, the inflation index has risen by 2.94 percent so far this



year.

The central bank has set an annual inflation rate target of between 4-6 percent for end of 2023.

In the past month, the Lankan rupee has appreciated as the central bank follows an ad hoc peg recommended by the International Monetary Fund, known as a flexible exchange.