{"id":142590,"date":"2024-06-24T14:55:31","date_gmt":"2024-06-24T21:55:31","guid":{"rendered":"https:\/\/www.lankaweb.com\/news\/items\/?p=142590"},"modified":"2024-06-24T14:58:50","modified_gmt":"2024-06-24T21:58:50","slug":"inflation-rate-drops-to-1-6-in-may-2024","status":"publish","type":"post","link":"https:\/\/www.lankaweb.com\/news\/items\/2024\/06\/24\/inflation-rate-drops-to-1-6-in-may-2024\/","title":{"rendered":"Inflation rate drops to 1.6% in May 2024"},"content":{"rendered":"<h2><span style=\"color: #0000ff;\"><em>Courtesy Hiru News<\/em><\/span><\/h2>\n\n\n<p>The overall rate of inflation, as measured by the National Consumer Price Index (NCPI), has decreased to 1.6% in May 2024, down from 2.7% in April 2024, according to the latest data released by the Department of Census and Statistics. This decline in inflation reflects a significant change in the economic landscape over the past month.<\/p>\n\n\n\n<p>Food inflation has seen a notable decrease, dropping to 0.5% in May 2024 compared to 3.3% in April 2024. This reduction in food prices has contributed significantly to the overall decline in inflation. However, the Year-on-Year inflation for the non-food group has slightly increased, reaching 2.4% in May 2024, up from 2.3% in April 2024.<\/p>\n\n\n\n<p>The NCPI for all items for the month of May 2024 stands at 206.3, showing a decrease of 1.9 index points compared to April 2024. This overall decrease in the NCPI indicates a broad reduction in the prices of goods and services, providing some relief to consumers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Courtesy Hiru News The overall rate of inflation, as measured by the National Consumer Price Index (NCPI), has decreased to 1.6% in May 2024, down from 2.7% in April 2024, according to the latest data released by the Department of Census and Statistics. This decline in inflation reflects a significant change in the economic landscape [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"","sticky":true,"template":"","format":"standard","meta":{"footnotes":""},"categories":[102],"tags":[],"class_list":["post-142590","post","type-post","status-publish","format-standard","hentry","category-economy"],"_links":{"self":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/142590","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/comments?post=142590"}],"version-history":[{"count":0,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/142590\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/media?parent=142590"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/categories?post=142590"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/tags?post=142590"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}