ECONOMYNEXT – Sri Lanka’s national consumer price inflation in November fell for the first time in six months to 8.4 percent from a year earlier, down from a more than two-year high of 8.8 percent the previous month, the Department of Census and Statistics said.
Consumer prices rose 1.3 percent in November, up from a 1.2 percent rise in October, a statement said .
The NCPI increased from 124.8 index points in October 2017 to 126.4 index points in November 2017.
“This monthly increase was mainly due to the increase in prices of the items in the Food category which was led by adverse supply side developments,” the statement said.
“Price increase of coconuts, green chillies and vegetables were prominent. Nevertheless, prices of fresh fish and some fruits declined.
“Meanwhile, prominent price increases were observable in payments to medical laboratories and payments to private hospitals room charges.”
The statement said 12-month moving average of inflation hit a high of 7.5 percent in November, up from 7.1 percent in October 2017.
“The NCPI Core inflation, which reflects the underlying inflation in the economy, continued to follow the declining trend exhibited since the early months of the year,” it said.
NCPI Core inflation decreased to 2.8 per cent in November 2017 from 4.1 per cent in October 2017 on a year-on-year basis.
Annual average NCPI Core inflation declined from to 5.6 per cent in October 2017 to 5.2 per cent in November 2017.
(COLOMBO, December 21, 2017)