Inflation in the Colombo district slowed sharply in August, as both food and non-food prices cooled after the government started cutting the tariffs of the utilities and fuel, ameliorating the price pressures through the supply chains.

The prices measured by the Colombo Consumer Price Index, the mostly watched gauge of consumer prices, decelerated to 0.5 percent in the 12 months to August 2024, from 2.4 percent through July.

The prices measured on a monthly basis meanwhile continued their declines, falling by 1.8 percent in August, accelerating from a 0.5 percent decline between June and July. After coming off from a runaway inflation, which peaked near 70 percent in 2022, Sri Lanka has managed to maintain its prices at single-digit levels for little more than a year now.

The Central Bank recently said that it is confident of maintaining its inflation below 5.0 percent through the end of first quarter next year before seeing a slight pick-up thereafter, which would also not threaten its medium-term inflation target.

As prices remained low and the inflation expectations also remain well anchored in the absence of any extraordinary events that will threaten the price stability, the Central Bank also signalled that it remains titled towards monetary easing.

However, it is unlikely that it will cut rates in September, ahead of the Presidential elections but could do so thereafter in the remainder of the year.

The food inflation meanwhile slowed significantly to 0.8 percent in August, measuredly annually from 1.5 percent through July.

The monthly prices meanwhile fell by 2.0 percent, as the decline in prices in commodities more than offset the rise in the prices in the same period.

The non-food prices further softened to 0.4 percent in August, from 2.8 percent through July. Meanwhile, the prices measured on a monthly basis fell sharply by 1.8 percent in August, extending its six-month-long decline in prices. This was possible from the easing prices in utilities, power and energy.

For instance, the cut in electricity and water tariffs and downward prices adjustments to fuel and gas contributed heavily in bringing down the non-food prices. The decline in these prices has the potential to impact the prices in goods as well, as they ease the cost of production and transport, helping to bring down the sticker prices of many goods.

This was seen in the recent producer prices too which have been easing through the supply chains.

Meanwhile, the so-called core prices, measured barring the often-volatile food, energy and transport, recorded 3.6 percent in the 12 months to August, slowing from 4.4 percent through July, signalling that the underlying price pressures are further subsiding.

The National Dengue Control Unit (NDCU) mandated the implementation of mosquito control programmes at all examination centres for the 2024 GCE Advanced Level examination. Accordingly, candidates have been instructed to bring mosquito repellent to the exam centres.

Health officials have issued a warning on the spread of a viral fever in the community. Common symptoms include fever, chills, sore throat and cough. They urge individuals to seek prompt medical attention if these symptoms last for longer than three days.

President Anura Kumara Dissanayake, addressing the Ministry of Finance staff after assuming duties as Minister, emphasized the importance of meeting public expectations to restore hope for a prosperous future. He lauded the Ministry’s role in overcoming the economic crisis and urged officials to focus on accountability and self-discipline.

Thirty-five new MPs have asked for housing facilities at the Madiwela Housing Complex, according to an informed source. The source said that these MPs had submitted their applications at the moment. Housing facilities in this complex are provided for those living outside the 40-kilometre radius of Colombo. In the complex, there are facilities to provide housing for 110 MPs.

A complaint has been lodged with the Criminal Investigation Department (CID) against controversial statements made by first time Jaffna District MP Dr. Archchuna Ramanathan. Civil activist Gunarathne Adikari speaking to media after filing the complaint said that the statements and behaviour of the new MP were unacceptable.

The Government of China contributed Rs. 1.5 billion in aid to Sri Lanka's Northern and Eastern Provinces in 2024, according to the Chinese Embassy in Colombo.

For the first time in Sri Lanka, the government is to establish a mechanism to supervise and advice ministries in the implementation of policies, a source said.

A tense situation was reported at the UNP party headquarters in Sirikotha when a group of UNP supporters arrived to hand over a document on reviving the party.

Samagi Jana Balawegaya (SJB) MP Harsha de Silva said today that an NPP MP has told him that the Parliament canteen will not be closed but the government will see that no one will abuse the facility.

Two fishermen were seriously injured and hospitalised after a parcel floating on the sea exploded while they were checking it off the coast of Mannar.