May inflation up by 5.3%

Wednesday, 22 June 2016 01:17 - - {{hitsCtrl.values.hits}}

The Department of Census and Statistics said that year-on-year inflation based on NCPI for the month of May 2016 was calculated as 5.3%.

The latest Consumer Price Index (CPI) released by the DCS is the National Consumer Price Index (NCPI). DCS commenced releasing NCPI (Base 2013=100) from October 2015 with a time lag of 21 days.

The Department of Census and Statistics has released the National Consumer Price Index (NCPI) for the month of May.

NCPI has been calculated as 113.7 for May. This shows an increase of 2.1 index points or a percentage of 1.9 compared to the previous month’s (April) index of 111.6.

This monthly change is due to the expenditure value of food items increased by 0.91% and expenditure value of non-food items increased by 0.97%.

In a communiqué issued by the Department of Census and Statistics, Director General Dr. Amara said the expenditure value of food commodity group has increased by 0.91% in May 2016 compared to April 2016.

This was mainly due to the price increases in vegetables, rice, limes, potatoes, dhal (masoor), red onions, green chilies, chicken, sugar, garlic and dried fish compared to the previous month (April).However, decreases in prices were recorded for eggs, papaw, banana, mangoes and coconut compared to the previous month (April).

The expenditure value of non-food commodity group has increased by 0.97% in May compared to April. This was mainly due to the expenditure value increases in non-food commodity groups of ‘Health’, ‹Communication’, ‹Miscellaneous Goods and Services›, ‹Housing, Water, Electricity, Gas and Other Fuels’, ‘Clothing and Footwear’, ‹Furnishing, Household Equipment & Routine Household Maintenance› and ‘Recreation & Culture’ compared to April.

Further, very slight increase in expenditure value was also reported for group of ‘Restaurant and Hotels› compared to the previous month (April). However, decrease in expenditure value was reported for non-food commodity group of ‘Alcoholic Beverages, Tobacco & Narcotics’compared to the previous month (April). The expenditure values of ‹Transport› and ‘Education’ groups remained unchanged during the month.