December inflation hits double-digit for the first time after 6 years -CCPI

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Sri Lanka’s Inflation increased to 12.1% in December2021 Year-on-Year says Department of Census & Statistics. Sri Lanka’s consumer price inflation hit a record high of double digit 12.1 percent in December month under the Colombo Consumer Price Index (CCPI).

After 2015 January month, inflation rate in Sri Lanka has reached the highest percentage this December. The Colombo Consumer Price Index, (CCPI) which measures inflation increased by 12.1 per cent (year-on-year) in December 2021.

The overall rate of inflation as measured by CCPI on Y on Y basis is 12.1% in December 2021 and Yon Y inflation calculated for
the month of November 2021 was 9.9%. With respect to November 2021, the reported inflation for the month of December 2021 was mainly due to the higher price levels prevailed in the month of December 2021. As a result, the Year on Year inflation of Food Group increased to 22.1% in December 2021 from 17.5% in November 2021 and the Year on Year inflation
of Non Food Group increased to 7.5% in December 2021 from 6.4% in November 2021.

December inflation hits double-digit for the first time after 6 years.

The CCPI is compiled to indicate average changes in the prices of goods and services purchased by households in urban areas of Colombo district. Prices for items in the Colombo Consumer Price Index are collected from 14 selected centers located in Colombo namely Pettah, Maradana, Wellawatta, Dematagoda, Grandpass, Borella, Kirulapone, Dehiwala, Kotte, Nugegoda, Kolonnawa, Rathmalana, Narahenpita and Rathmalana dedicated economic centers. Prices are collected weekly from the outlets located within each of the above market areas including Lak Sathosa and a supermarket. The consumer basket includes 392 items, which represent the typical urban household consumption expenditure. The CPI weights are derived from the Household Income and Expenditure Survey (HIES) 2012/13.

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