Sri Lanka experiences first deflation in 39 years, as September's inflation drops to -0.5%.

Sri Lanka has entered its first deflation in 39 years, with September's inflation at -0.5%, down from 0.5% in August. This decline is linked to reduced consumer prices for food and non-food items. Following a severe economic crisis that peaked at 69.8% inflation in 2020, protests led to the resignation of President Gotabaya Rajapaksa. Current President Anura Kumara Dissanayake aims to continue the IMF program while easing austerity measures.

September 30, 2024
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