The national consumer prices fell into deflation in September, after the food prices cooled, while the fuel prices took away much of the heat on the non-food price inflation during the last few months. This is due to the repeated cuts to the fuel prices, based on the easing global energy prices and rupee strength.

The consumer prices, measured by the National Consumer Price Index, came in at a negative 0.2 percent in the year through September 2024, flipping from an increase of 1.1 percent through August 2024.

The monthly prices fell 0.5 percent, extending the months-long decline in the index, as both the food prices and non-food prices fell.

The prices of many food items declined at national level, offsetting the price increases in only a few items during September, which helped slightly ease the hardships facing people, after going through the years-long runaway inflation, which turned their lifestyles upside down.

The monthly prices declined 0.8 percent while the prices measured annually cooled to 0.5 percent, from a 2.3 percent increase seen through August 2024.

The improvement in the supply conditions, downward revisions to fuel and electricity prices and over 10 percent appreciation in the rupee helped the prices of everything from the basics to discretionary to durables to come down in prices as of late.

The Central Bank too expects the current deflationary impulses to persist for a couple of more months before converging towards its 5 percent medium-term inflation target by the first half next year.

Unlike in other cases of deflation, the Central Bank is unasing power the people lost in the last couple of years.

The non-food inflation fell by 0.3 percent in September from a month ago while the prices declined by 0.7 percent from a year ago levels, predominantly due to the cuts to the fuel prices.

Transport consumes a significant share of people’s incomes and hence, the part reversal in energy prices will leave more money in people’s pocket books to spend elsewhere, specially on the essentials and discretionary, which the households had to do away with for more than two years.

Meanwhile, the so-called core prices, which strip out the often-volatile food, energy and transport prices, fell slightly to 2.7 percent in the year through September 2024, from 2.8 percent through August.

While refuting claims by former President Ranil Wickremesinghe that his government had allocated funds required to increase public sector salaries, President Anura Kumara Dissanayake said that no such funds had been allocated.

A Fundamental Rights petition has been filed before the Supreme Court seeking an order preventing Ranjan Ramanayake from contesting the parliamentary election scheduled for November 14.

Claiming that Sri Lanka has come a long way in terms of undertaking reforms which have led to some hard won gains, the International Monetary Fund (IMF)said they could move fast towards the third review which will come up soon.

The Election Commission has decided to mark the voters' index fingers for this year's general elections, Commissioner General Saman Ratnayake announced. He said the elections are scheduled for November 14, 2024.

President Anura Kumara Dissanayake is set to hold a series of meetings with the High Commissioners of South Africa and New Zealand, along with the Ambassadors of Iran and Myanmar, as well as a delegation from the European Union today (25) at the Presidential Secretariat.

Three suspects have been arrested in connection with the security threats to Israeli nationals in the Arugam Bay area, Public Security Minister Vijitha Herath said.

Sri Lanka should get its foreign policy right in the wake of the escalating Middle East crisis, Samagi Jana Balawegaya (SJB) MP Mujibur Rahman said today.

The Canadian government has issued a travel advisory urging travellers to exercise a high degree of caution in Sri Lanka due to demonstrations, the threat of terrorist attacks and crime, particularly in the Arugam Bay area.

Sri Lankan security forces have been alerted to a potential attack on Israelis in the Arugam Bay area by Indian intelligence agencies. According to intelligence information, the threat is believed to be targeted at foreign nationals.

Former Power and Energy Minister Kanchana Wijesekara asked why the government did not take action to beef up security for foreign tourists in advance if it had received information on a possible threat on October 7, according to the statement made by Acting Chief of Police.