Inflation Overview for June 2024
Headline Inflation (YoY Change in CCPI) increased to 1.7% in June 2024 up from 0.9% in May 2024 and this increase follows three consecutive months of decline in month to month inflation.
Core inflation accelerated to 4.4% in June 2024, compared to 3.5% in May 2024.
Upside Risks to Inflation
- Upward pressure on global energy prices
- Adverse weather on agricultural production
- Exchange rate depreciation more than the levels of projections.
Source- CBSL
The ASPI fell to 11,844 marking a 0.87% drop over the week, while the consolidated turnover plunged by 51.72% to LKR 3,136.1Mn.
Despite positive economic data being released in recent weeks, investors continued to adopt a cautious approach.