Sri Lanka inflation up 7.9-pct in August 2017

Sri Lanka’s year on year inflation based on the National Consumer Price Index (NCPI) increased to 7.9 percent in August 2017 from 6.3 percent in July 2017, the department of Census and Statistics said.

This month on month change was due to the decrease of expenditure value of food items by 0.25 percent and increase of expenditure value of non-food items by 0.16 percent, the data showed.

Contributions to the inflation from food group and non-food group in August 2017 are 5.3 percent and 2.7 percent respectively, whilst contributions of these two groups to the inflation in August 2016 were 1.8 percent and 2.6 percent respectively reflecting comparatively lower price levels especially in food prices in August 2016.

However, when compared to month on month changes, NCPI in August 2017 has decreased to 122.3 from 122.4 reported in July 2017.

This shows a decrease of 0.1 index points or 0.1 percentage points in August 2017 compared to July 2017.

The increase in expenditure value of non food items in August 2017 compared to the previous month was due to the expenditure value increases in groups of ‘Health’, ‘Alcoholic beverages, Tobacco and Narcotics’, ‘Miscellaneous Goods and Services’, ‘Furnishing, Household equipment and Routine household maintenance’ ‘Transport’, ‘Clothing and Footwear’ and ‘Education’.

Courtesy : LBO