The Central Bank expressed its confidence about the ability to maintain inflation below its medium target of 5 percent through the first quarter next year, before seeing a temporary uptick in the prices towards the second half of 2025, before converging around the target level thereafter. The prices rose by 2.4 percent in July from a year ago, accelerating from 1.7 percent through June but the monthly prices of food, energy and electricity eased, according to the widely used Colombo Consumer Price index. The low base effects are also dissipating but the Central Bank is confident the general price increases would remain below 5 percent. Despite the inflation readings coming softer, the people and businesses are grappling with a manifold increase in prices in the last two years and also the repeatedly raised taxes by the government. (ICE NEW DELHI)

Fonte notizia: The Daily Mirror