Sri Lanka records marginal increase in inflation: report
The Department of Census and Statistics of Sri Lanka has reported a slight uptick in headline inflation – as determined by the National Consumer Price Index (NCPI) – from five percent in September to 5.6 percent in October.
The report indicates an increase in the NCPI for all items, from 130.6 in September to 131.9 in October, and attributes the higher index value to an increase in expenditure on food items (0.99%) and a decrease in non-food items (0.01%).
It reveals that year on year inflation for the food group had increased to 7.3 percent while that of the non-food group decreased to 4.3 percent in the period from September to October.
The report findings indicate that food commodities contributed 3.2 percent to inflation in October; meanwhile, the contribution of non-food items was 2.4 percent.
Moreover, it points to a moving average inflation rate of 2.8 percent for October compared to 2.3 percent in the previous month.