Sri Lanka’s national inflation slows in Sept to 0.9-pct

ECONOMYNEXT- Sri Lanka’s nationwide inflation slowed to 0.9 percent in the 12-months to September 2018 from 2.5 percent a month earlier, the lowest since January 2016, the central bank said in a statement.

Consumer prices during the month fell 0.8 percent to with the National Consumer Price Index falling to 124.4 index points in September 2018 from 125.4 index points in August 2018.

“The deceleration in year-on-year inflation in September was driven by both the base effect and the monthly decline in food prices,” it said.

There was a decline in prices of the items in the food category, particularly that of vegetables, coconuts, green chillies and fresh fish.

Price increases were observed in the non-food category, particularly that of alcoholic beverages and tobacco; transport and restaurants and hotels sub-categories.

The NCPI measured on an annual average basis fell to 4.0 per cent in September 2018 from 4.7 per cent in August 2018.

The NCPI core inflation, which reflects the underlying inflation in the economy, increased to 3.1 per cent in September 2018 from 2.7 per cent in August 2018 on a year-on-year basis, the central bank said.

Annual average NCPI core inflation declined to 2.4 per cent in September 2018 from 2.5 per cent in August 2018.
(COLOMBO, 22 Octber, 2018)

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