Sri Lanka’s national inflation slows to 7.1-pct in May
ECONOMYNEXT – Sri Lanka’s country-wide inflation continued to decelerate in May 2017, dropping to 7.1 percent from 8.4 percent in April as measured by the change in the National Consumer Price Index (NCPI), the Central Bank said but pricec continued to edge up during the month.
Prices climbed 0.7 percent during May 2017, with the NCPI, compiled by the Department of Census and Statistics, increasing from 121.0 index points in April 2017 to 121.8 index points in May 2017.
But, inflation measured as the 12-month increase in the index slowed after hitting a two-year high of 8.6 percent in March 2017 .
“This deceleration is mainly due to the base effect amid a monthly increase in NCPI” a statement said.
Both the Food and Non-Food categories contributed towards year-on-year inflation in May 2017.
“This monthly increase was mainly due to the increase in prices of items in the Food category,” the statement said.
(COLOMBO, June 21, 2017)