CURRENT AFFAIRS

Detailed explanation-1: -Sri Lanka’s nation-wide inflation for March 2022 under the National Consumer Price Index (NCPI) surged to 21.5 per cent from 17.5 per cent reported in February 2022, the Department of Census and Statistics reported.

Detailed explanation-2: -CCPI based headline inflation recorded at 69.8% on year-on-year basis in September 2022. Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2013=100) increased to 69.8% in September 2022 from 64.3% in August 2022.

Detailed explanation-3: -ECONOMYNEXT – Sri Lanka’s inflation galloped to 18.8 percent in March 2022 in the capital Colombo up from 15.1 percent in February as the central bank printed money to keep interest rates low and the currency collapsed in a failed float.

Detailed explanation-4: -The Consumer Price Index increased 8.5 percent for the year ended March 2022, following a rise of 7.9 percent from February 2021 to February 2022.

Detailed explanation-5: -The annual inflation rate for the United States is 6.5% for the 12 months ended December 2022 after rising 7.1% previously, according to U.S. Labor Department data published Jan. 12. The next inflation update is scheduled for release on Feb. 14, 2023, at 8:30 a.m. ET.