The Department and Census and Statistics (DCS) said that Sri Lanka’s consumer price inflation rate reduced to 2.1% year-on-year in August. This was from 4.6% in July.
The department attributed this dip in inflation to the rapid falling of food prices. The Department of Census and Statistics said in a statement that the food prices fell 5.4% in August after declining 2.5% in July from a year earlier.
Movements of NCPI
Prices for non-food items, however, climbed 9% in August after rising 10.9% year-on-year in July. The decreases in index values were reported for Vegetables (0.30%), Fresh fish p.15%), Eggs (0.11%), Green chilies (0.06%), Coconuts (0.05%), Chicken (0.04%), Coconut oil (0.04%), Red onions (0.03%), Bread (normal) (0.02%), Biscuits (0.02%), Chili powder (0.02%), Buns (0.01%), Noodles (0.01%), Green gram (0.01%), Rice flour (0.01%), Dried fish (0.01%) and Wheat flour (0.01%).
However, increases in index values were reported for Fresh fruits p.11%), Limes (0.06%), Sugar (0.04%), Big onions (0.04%), Rice (0.03%), Mysore dhal (0.01%), Cowpea (0.01%), Ginger (0.01%) and Papadam (0.01%).
The increases in index values of non-food groups in August 2023 compared to the previous month was mainly due to the price increases in groups of items ‘Housing, Water, Electricity, Gas and Other fuels’ (Water bilO (0.42%), ‘Transport’ (Petrol) (0.22%), ‘Miscellaneous Goods and Services’(Car Insurance) (0.03%), ‘Alcoholic Beverages, Tobacco and Narcotics’ (Arecanuts) (0.02%) and ‘Furnishing, Household equipment and Routine household maintenance’ (0.01%).
However, price decreases in groups of items were reported for ‘Clothing and Footwear’ (0.06%), ‘Recreation and Culture’ (Books) (0.02%) and ‘Restaurants and Hotels’ (0.02°%). ‘Further, very slight price increase was reported in the ‘Health’. Meanwhile, the price indices of ‘Education’ and ‘Communication’ groups remained unchanged during the month.
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