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Despite inflation up on a month-on-month basis, the year-on-year inflation measured by CCPI fell from 57.2% to 54.2% due to the base effect. Sea Fish and Coconut prices increased compared to last month, and education costs also adjusted at the beginning of the new year.
But in the long run, inflation is expected to follow the declining path until it reaches below 20%. The massive money printing has generated an excess of LKR 2.5Bn in the money supply as one of the barriers to easing off the inflation further in time to come.