CCPI-based inflation at 4.1% in Aug., says CB

Wednesday, 2 September 2020 00:12 - - {{hitsCtrl.values.hits}}

Headline inflation as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index had decreased to 4.1% in August from 4.2% in July, the Central Bank said.

This was mainly driven by the statistical effect of the high base prevailed in August 2019.

Food inflation (Y-o-Y) increased to 12.3% in August from 10.9% in July, whereas

Non-Food inflation (Y-o-Y) decreased to 0.8% in August from 1.5% in July.

The change in the CCPI measured on an annual average basis remained unchanged at 4.8% in August.

Monthly change of CCPI recorded at 0.0% in August. This was due to setting off the price increase of 0.1% in the Food category, with the price decline observed in the Non-Food category by the same magnitude. Within the Food category, prices of coconut, vegetables and turmeric increased in August. However, prices of fresh fish and limes recorded significant declines during the month.

Within the Non-Food category, prices of items in the Health (payments to medical laboratories) sub-category declined during the month.

The core inflation (Y-o-Y), which reflects the underlying inflation in the economy, remained unchanged at 3.2% in August. However, annual average core inflation declined further to 3.8% in August from 4.0% in July.

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