Inflation likely to jump to 7% in January CBSL Governor
January 23, 2024 11:51 am
The Governor of the Central Bank of Sri Lanka (CBSL), Dr. Nandalal Weerasinghe, has warned that Sri Lanka’s inflation could rise to 7% in January 2024.
Speaking at a special press briefing held on Tuesday (23 Jan.), Dr. Weerasinghe explained that an increase in inflation is likely due to the increase in the Value Added Tax (VAT), and other external factors.
The VAT was increased by 3%, from 15% to 18%, with effect from 01 January 2024, after the VAT (Amendment) Bill was passed in parliament on 11 December 2023.
