CCPI based inflation drops to 66% in October

The overall rate of inflation as measured by the Colombo Consumer Price Index (CCPI) on Year-on-Year basis has decreased to 66% in October 2022 from 69.8% in September 2022, according to the Department of Census and Statistics.

Meanwhile food inflation has also decreased to 85.6% in October from 94.9% in September, the CCPI report for the month of October 2022 said.

The CCPI for all items for the month of October 2022 was 243.8 and it recorded a decrease of 0.9 in index points compared to the month of September 2022. 

The overall rate of inflation as measured by CCPI on Y-on-Y basis is 66.0% in October 2022 and Y-on-Y inflation calculated for the month of September 2022 was 69.8%. 

The Year-on-Year inflation of Food Group decreased to 85.6% in October 2022 from 94.9% in September 2022 and the Year-on-Year inflation of Non Food Group also decreased to 56.3% in October 2022 from 57.6% in September 2022, according to the report.  

The CCPI is an economic indicator constructed to measure inflation which is defined as percentage change in CCPI over the year. 

Source – Adaderana.lk