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Sri Lanka nation-wide inflation accelerates to 6.4-pct in June 2016

ECONOMYNEXT – Sri Lanka’s rate of inflation, as measured by the National Consumer Price Index (NCPI), picked up to 6.4% in June from a year ago, compared with a 5.3% increase in May, the Department of Census and Statistics said.

It was the highest NCPI inflation since June 2015 and the fifth straight monthly rise after falling 0.7% in January 2016, according to the department’s data.

On month-on-month basis, the new National Consumer Price Index (NCPI), compiled using prices collected from all nine provinces with a base year of 2013, rose 2.1% in June, up from 1.9% in May, and from 1.5% in April after having fallen 0.7% in March.

In a communiqué issued on National Consumer Price Index, Amara Satharasinghe, Director General of Census and Statistics said the contribution to the inflation from food group and non-food group was 3.4% and 3.1%.

“It is noteworthy that the contribution of vegetables and green chillies in the food group was 2.0%,” it said.

NCPI has been calculated as 116.1 for June 2016, an increase of 2.4 index points or 2.1% compared to the previous month’s (May) index of 113.7.

“This monthly change is due to the expenditure value of food items which increased by 2.1% and expenditure value of non-food items which increased by 0.1%. The monthly increase in food items was mainly due to the increases in prices of vegetables and green chillies.”
(COLOMBO, July 21, 2016)

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