Food inflation tops 90% in August as per CCPI

Saturday, 3 September 2022 00:06 - - {{hitsCtrl.values.hits}}

Headline inflation, as measured by the year-on-year (YoY) change in the Colombo Consumer Price Index (CCPI, 2013=100)1 increased to 64.3% in August 2022 from 60.8% in July 2022.

This increase in YoY inflation was mainly driven by the monthly increases of both Food and Non-Food categories.

Food inflation (YoY) increased to 93.7% in August 2022 from 90.9% in July 2022, while Non-Food inflation (YoY) increased to 50.2% in August 2022 from 46.5% in July 2022.

Monthly change of CCPI recorded at 2.45% in August 2022 due to price increases observed in items of both Food and Non-Food categories which were 0.83% and 1.62%, respectively.

Within the Food category, increases were observed in prices of fresh fish, fruits, bread, biscuits, eggs and chicken. However, prices of rice and dhal decreased during the month. Further, within the Non-Food category, increases were observed in prices of Housing, Water, Electricity, Gas and Other Fuels (Electricity bill and maintenance/reconstruction), Transport (Transport fare for schooling and air fare), Clothing and Footwear and Miscellaneous Goods and Services sub-categories during the month.

Annual average inflation rose to 28.0% in August 2022 from 23.1% in July 2022. The core inflation (YoY), which reflects the underlying inflation in the economy increased to 46.6% in August 2022 from 44.3% in July 2022, while annual average core inflation increased to 20.3% in August 2022 from 16.7% in July 2022.