July inflation at 2.2%

Thursday, 22 August 2019 02:53 - - {{hitsCtrl.values.hits}}

Inflation in July increased marginally to 2.2% from 2.1% in June largely on an increase in the non-food category, the Central Bank said in a statement yesterday.

Headline inflation as measured by the year-on-year change in the National Consumer Price Index (NCPI, 2013=100) increased marginally to 2.2% in July 2019 from 2.1% in June 2019 due to the monthly increases of prices of items in both Food and Non-food categories.

Meanwhile, in July 2019, year-on-year Food and Non-food inflation recorded -2.5% and 6.1% respectively.

The change in the NCPI measured on an annual average basis decreased to 1.9% in July 2019 from 2% in June 2019.

When monthly change is considered, the NCPI increased by 0.2% in July 2019 with the increases observed in the prices of the items in both Food and Non-food categories. Within the Food category, prices of green chillies, fresh fish and potatoes recorded increases.

Moreover, within the Non-Food category, prices of the items in Housing, Water, Electricity, Gas and other Fuels; and Recreation and Culture subcategories increased during the month.

The core inflation, which reflects the underlying inflation in the economy, remained unchanged at 6.1% in July 2019 on year-on-year basis. However, annual average core inflation increased to 4.7% in July 2019 from 4.4% in June 2019.