Headline Inflation based on the National Consumer Price Index (NCPI) recorded at 22.1% in May, compared to 33.6% in April 2023; Food Inflation decreased to 15.8% in May, from 27.1% in April 2023.

Decreases in food index values were reported for Fresh fruits (0.22%), Milk powder (0.14%), Rice (0.07%), Coconuts (0.04%), Chili powder (0.04%), Coconut oil 0.03%), Bread (normal) (0.02%), Eggs (0.02%), Green chilies (0.02%), Dried chilies (0.01%), Turmeric powder (0.01%), Cowpea (0.01%) and Red onions (0.01%).

The increases in index values were reported for Fresh fish (0.40%), Vegetables (0.40%), Sugar (0.09%), Chicken (0.06%), Mysore dhal (0.03%), Potatoes (0.03%), Ginger (0.02%), Garlic (0.02%), Big onions (0.01%), Limes (0.01%), Dried fish (0.01%) and Canned fish (0.01%).

The decreases in index values of non-food groups in May 2023 compared to the previous month was mainly due to the price decreases in groups of items ‘Alcoholic Beverages, Tobacco and Narcotics” (Bulathwita) (0.01%), ‘Housing, Water, Electricity, Gas and Other fuels’ (Materials for the Maintenance and LP Gas) (0.10%), “Furnishing, Household equipment and Routine household maintenance'(0.01%) ,’Transport’ (Petrol and Diesel) (0.15%) and ‘Miscellaneous Goods and Services’ (Toilet soap) (0.01%). However, price increases in groups of items were reported for ‘Clothing and Footwear’ (0.03%) and “Recreation and Culture” (0.03%). Further, very slight price increase was reported in the group of ‘Restaurants and Hotels’. Meanwwhile, the price indices of ‘Health’, ‘Education’ and ‘Communication’ groups remained unchanged during the month.