July consumer prices rise 4.8%

Reuters: Consumer prices rose 4.8% in July from a year earlier, edging down from the previous month’s 6.1% increase, under a revised base-year and market basket, data from the Department of Census and Statistics showed on Monday.

Core annual inflation, which excludes fresh food, energy, transport, rice and coconuts, rose 4.9% in July compared with the previous month’s 5.1% gain, the index with a new base year of 2013 showed.

On a month-on-month basis, the Colombo Consumer Price Index (CCPI) fell 0.6% this month, compared with last month’s 1.6% increase. 

July inflation, as measured on a 12-month moving average basis, rose 5.4% from its record high of 5.5% hit in the previous month.