Inflation up 1% in November

Monday, 24 December 2018 01:16 - - {{hitsCtrl.values.hits}}

Headline inflation, as measured by the year-on-year change in the National Consumer Price Index (NCPI), reversed its declining trend, recording 1% in November from 0.1% in October.

Central Bank said the increase observed in year-on-year inflation in November is mainly driven by the increase of the prices of food items.

Year-on-year Food inflation increased to -3.9% in November from -6.6% in October. However, year-on-year Non-food inflation decreased from 5.8% in October to 5.2% in November.

The change in the NCPI measured on an annual average basis decreased to 2.7% in November from 3.3% in October. The month-on-month change of the NCPI increased by 2.2% in November due to increase in the prices of the items in the Food category, particularly that of vegetables, green chillies, rice, limes and potatoes.

Central Bank also said prices of the items in the Non-food category also increased during the month where the Health sub-category reported the highest increase. However, prices of items in the Transport (Petrol and Diesel) sub-category reported a decrease during the month.

The core inflation, which reflects the underlying inflation in the economy, decreased to 3.1% in November from 3.4% in October on year-on-year basis. The annual average core inflation remained unchanged at 2.4% in November.