Sri Lanka’s national inflation steady at 6.3-pct in July

ECONOMYNEXT – Sri Lanka’s national inflation, measured by the change in the National Consumer Price Index (NCPI), remained at 6.3 percent in July 2017 from a year ago, as food prices and health costs fell, the Central Bank said.

The NCPI, compiled by the Department of Census and Statistics (DCS), decreased to 122.4 index points in July 2017 from 123.4 index points in June 2017, a statement said.

“This monthly decrease was mainly due to the decrease in prices of items in the Food category. Within the Food category, prices of coconuts, vegetables, fresh fish, green chillies, garlic and red onions decreased during the month. In the Non-food category, prices of items in the Health sub-category recorded a decrease during the month,” it said.

Prices in Clothing and Footwear; Furnishing, Household Equipment and Routine Household Maintenance; Transport (Bus fares), and Miscellaneous Goods and Services sub-categories increased. The Alcoholic Beverages and Tobacco (areca nuts) sub-category increased during July 2017.

Prices in Housing, Water, Electricity, Gas and Other Fuels; Communication; Recreation and Culture; Education; and Restaurants and Hotels sub-categories remained unchanged during the month.

The change in the NCPI measured on an annual average basis increased marginally from 6.1 percent in June 2017 to 6.2 percent in July 2017.

The NCPI Core inflation, which reflects the underlying inflation in the economy increased to 4.2 percent in July 2017 from 4.1 percent in June 2017 on year-on-year basis, the statement said.

Annual average NCPI Core inflation declined from 6.1 percent in June 2017 to 5.9 percent in July 2017.
(COLOMBO, August 21, 2017)

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