Inflation increasing in Sri Lanka. Food inflation increased to 75%

0
Inflation
Inflation

According to Department of Census & Statistics, overall rate of inflation as measured by National Consumer Price Index on Year-on-Year basis is 58.9% in June 2022.

The Year-on-Year inflation of the food group increased to 75.8% in June 2022 from 58% in May 2022 and the Year-on-Year inflation of the non-food group increased to 43.6% in June 2022 from 34.2% in May 2022.

Price increases of food items were mainly reported for prices of rice, vegetables, fresh fish, sugar, milk powder and dried fish. Further, within the Non-Food category, increases were observed in prices of Transport (Petrol, diesel and bus fare).

Inflation increasing in Sri Lanka. Food inflation increased to 75%
Inflation increasing in Sri Lanka. Food inflation increased to 75%

Headline inflation, as measured by the year-on-year (Y-o-Y) change in the National Consumer Price Index (NCPI, 2013=100) increased to 58.9% in June 2022 from 45.3% in May 2022. This increase in Y-o-Y inflation was driven by the monthly increases of both Food and Non-Food categories. Accordingly, Food inflation (Y-o-Y) increased to 75.8% in June 2022 from 58.0% in May 2022, while Non-Food inflation (Y-o-Y) increased to 43.6% in June 2022 from 34.2% in May 2022.

Monthly change of NCPI recorded at 10.91% in June 2022 due to price increases observed in items of both Food and Non-Food categories which were 7.25% and 3.66%, respectively. Accordingly, within the Food category, prices of rice, vegetables, fresh fish, sugar, milk powder and dried fish recorded increases during the month. Further, within the Non-Food category, increases were observed in prices of Transport (Petrol, diesel and bus fare), Furnishing, Household Equipment and Routine Household Maintenance, and Restaurants and Hotels sub-categories during the month.

LEAVE A REPLY

Please enter your comment!
Please enter your name here