The export unit value index decreased by 8.2 per cent, (year-on-year), in April 2023, due to lower prices registered in industrial exports category. The import unit value index in April 2023 declined by 6.2 per cent, (year-on-year) due to lower prices registered in investment and intermediate import categories. Accordingly, the terms of trade declined by 2.2 per cent, (year-on-year), to 76.0 index points in April 2023, according to Weekly Economic Indicators of the Central Bank of Sri Lanka.
The report also stated: “On year-on-year basis, Colombo Consumer Price Index (CCPI) (2021=100) based headline inflation declined to 25.2 per cent in May 2023 from 35.3 per cent in April 2023. The Food inflation recorded at 21.5 per cent while the Non-Food inflation recorded at 27.0 per cent in May 2023. Monthly change of the CCPI recorded at -0.02 per cent in May 2023. This small monthly change was due to the netting off of price decreases observed in the items of Non-Food category, which was -0.56 per cent by the price increases observed in the Food category, which was 0.53 per cent. Furthermore, the CCPI based core inflation decreased to 20.3 per cent in May 2023 from 27.8 per cent in April 2023.”
“Weekly Average Weighted Prime Lending Rate (AWPR) for the week ending 02nd June 2023 decreased by 99 bps to 20.29 per cent compared to the previous week.”