Colombo inflation jumps to 7.6% in Oct. from 5.7% in Sept.

The Colombo Consumer Price Index (CCPI)-based inflation in October rose to 7.6% from 5.7% in the previous month according to the Central Bank. 

It said the increase was driven by monthly increases of prices of items in both Food and Non-Food categories. Subsequently, Food inflation (Y-o-Y) increased to 12.8% in October from 10% in September, while Non-Food inflation (Y-o-Y) increased to 5.4% in October from 3.8% in September.

The CCPI, measured on an annual average basis, increased to 4.8% in October from 4.5% in September.

Monthly change of CCPI recorded at 1.94% in October due to price increases observed in items of both Food and Non-Food categories.

 Moreover, monthly changes of Food and Non-Food categories recorded at 0.91% and 1.03%, respectively.

Accordingly, within the Food category, prices of rice, milk powder, coconut and fresh fish increased. Further, prices of items in the Non-Food category recorded increases mainly due to price increases observed in the Housing, Water, Electricity, Gas and Other Fuels (L.P. Gas, Maintenance/ Reconstruction), and Restaurant and Hotels sub-categories during the month.

The core inflation (Y-o-Y), which reflects the underlying inflation in the economy, increased to 6.3% in October from 5% in September. Moreover, annual average core inflation increased to 3.6% in October from 3.3% in September.