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Sri Lanka’s national inflation falls to 1.6-pct in April 2018

ECONOMYNEXT – Sri Lanka national inflation fell to 1.6 percent in the 12-months to April 2018, an over two-year low, the state statistics office and the central bank said.

The change in the National Consumer Price Index (NCPI) was the lowest since February 2016, and down from 2.8 per cent in March 2018 on a year-on-year basis, a statement said.

“The decline in the year-on-year inflation in April 2018 was mainly driven by the higher base resulting from the increase in prices of the items in the Food category during April 2017,” it said.

The NCPI, measured on an annual average basis, decreased from 6.7 per cent in March 2018 to 6.1 per cent in April 2018.

The index itself rose 0.1 percent, from 122.8 index points in March 2018 to 122.9 index points in April 2018 mainly due to the increase in prices of the items in the Non-food category.

This was mainly because of the increase in transport costs after the fuel price increase by the Lanka Indian Oil Corporation and higher alcohol and tobacco prices.

But prices fell in the Food category particularly that of vegetables, big onions and coconuts as a result of improved supply conditions.
(COLOMBO, May 21, 2018)

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