Sri Lanka nationwide inflation slows to 4.5-pct in August

ECONOMYNEXT – Nationwide inflation in Sri Lanka in August 2016 fell to 4.5 percent from 5.8 percent in July 2016, on year-on-year basis, the Department of Census and Statistics said.

The National Consumer Price Index (NCPI) fell 1.6 percent to 113.3 index points in August 2016 from 115.2 index points in July 2016 mainly due to the decrease in prices of items in the Food category.

Prices of vegetables, green chillies, sugar, coconut, sprats, rice, dhal and red onions decreased during the month, a statement said.

Within the Non-Food category, prices in the Health, Communication, and Recreation and Culture sub-categories decreased during August 2016.

Prices in the Clothing and Footwear; Furnishing, Household Equipment and Routine Household Maintenance; Transport; Restaurants and Hotels; and Miscellaneous Goods and Services sub-categories increased during August 2016.

Prices of Alcoholic Beverages and Tobacco increased in August 2016, while prices in the Education sub-category remained unchanged during the month.

“The NCPI Core inflation, which reflects the underlying inflation in the economy, decreased to 6.0 percent in August 2016 from 6.8 percent in July 2016, on year-on-year basis,” the statement said.
(COLOMBO, Sept 21, 2016)

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