Reference Value Report: Living Wage and 2024 Update for Urban Sri Lanka

This report updates the Anker Living Wage Reference Value for urban Sri Lanka to June 2024. This was LKR 84,231 (USD 259) in April 2022 in the original report, comprised of a Net Living Wage of LKR 77,492 (USD 238), plus a social security contribution of LKR 6,737 (USD 21). The updated Anker Gross Living Wage for June 2024 is LKR 115,943 (USD 382) per month, comprised of a Net living Wage of LKR 106,667 (USD 351), plus social security contribution of LKR 9,275 (USD 31). Inflation in this period was 37.6%. Without accounting for inflation, the Living Wage estimated in 2022 would not be sufficient for families to have a basic but decent standard of living in June 2024, because the purchasing power of the Living Wage would have considerably decreased. Social security contributions were calculated using laws in force in 2024.