Sri Lanka is the second most expensive country in South Asia to live in, with the cost of living for an individual estimated at $506 (approximately Rs. 153,899) per month, excluding rent, according to Numbeo, a user-generated cost-of-living statistics website.
For a family of four living in Colombo, monthly expenses to maintain a comfortable lifestyle are estimated at Rs. 570,997, excluding rent. These costs cover childcare, groceries, dining, outings, school fees, household expenses, and vehicle costs.
Numbeo, the world’s largest crowd-sourced database on cost of living, quality of life, and related statistics, ranks the Maldives as the most expensive SAARC country, with a cost of $840.4 per person per month.
The high cost of living in Sri Lanka is compounded by rising taxes and inflation. The Central Bank’s Annual Economic Review 2024 notes that the average monthly household consumption expenditure increased by 1.6% from Rs. 103,383 in 2023 to Rs. 105,063 in 2024. This represents a significant easing compared to the 74.9% increase recorded in 2022 and the 16.5% increase in 2023, yet families continue to adopt negative coping strategies to manage expenses.
In addition, vegetable prices have surged sharply. Data from the Central Bank of Sri Lanka shows that between 18th of September , 2024, and 1st of September 2025, the average price per kilogram of nine commonly consumed vegetables rose from Rs. 225 to Rs. 321.10, an overall increase of 42.7%.
