Sri Lanka records slight increase in inflation: report
The Department of Census and Statistics of Sri Lanka has reported a marginal uptick in inflation – as measured by the change in the Colombo Consumers’ Price Index (CCPI) – from 3.3 percent in July to 3.4 percent in August.
The report indicates an increase in the CCPI for all items from 130 in July to 130.1 in August, attributing the higher index value to a decrease in expenditure on food items (0.3%) and an increase in non-food items (0.4%).
It reveals that year on year inflation for the food group had decreased by 0.2 percent to a negative 2.8 percent while that of the non-food group increased by 0.3 percent to 6.2 percent in the period from July to August.
The report findings indicate that food commodities contributed a negative 2.8 percent to inflation in August on a year on year basis while the contribution of non-food items was 4.3 percent.
Moreover, it points to a moving average inflation rate of 3.8 percent for August, which represents a 0.2 percent decrease from the previous month.