Sri Lanka鈥檚 inflation rose to its highest level in 14 months in September due to higher costs for food, health and education, the country鈥檚 statistics office said Tuesday.
Year-on-year inflation was 1.5 per cent, up from 1.2 per cent in August and compared with a deflation of 0.5 per cent a year earlier, official data showed.
September鈥檚 inflation was the highest since July last year, when prices rose by 2.4 per cent. Food prices alone jumped 2.9 per cent in September while non-food items rose at a modest 0.7 per cent.
Sri Lanka鈥檚 central bank has said it expects prices to rise further by the end of the year and could reach a targeted five percent.
Inflation in Sri Lanka hit a record 69.8 per cent three years ago at the height of the country鈥檚 worst economic crisis, when it ran out of foreign exchange to finance even the most essential imports.
However, prices have stabilised since the country secured a $2.9-billion bailout from the International Monetary Fund (IMF) in early 2023.
The government has also reached debt restructuring agreements with international lenders, and the IMF has said the economy has stabilised, although recovery remains fragile.