March inflation hits 2.2% on non-food items

Saturday, 23 April 2016 00:00 -     - {{hitsCtrl.values.hits}}

Inflation, as measured by the change in the National Consumer Price Index (NCPI), compiled by the Department of Census and Statistics, increased to 2.2% in March 2016 from 1.7% in February 2016, on year-on-year basis. 

The main contributor towards the increase in year-on-year inflation was the Non-food category. Prices in Miscellaneous Goods and Services (Car insurance); Alcoholic Beverages and Tobacco; Transport; and Clothing and Footwear sub categories were the main contributors towards the year-on-year increase.

The change in the NCPI measured on an annual average basis decreased to 2.4% in March 2016 from 2.6% recorded in February 2016, the Central Bank said in a statement. 

When the monthly change in the NCPI is considered, the NCPI decreased by 0.7% from February 2016 to March 2016. 

This monthly decline was mainly due to the decrease in prices of the items in the Food and Non Alcoholic Beverages category. Prices of vegetables, rice, green chilies, coconuts and red onions decreased during the month.

 Prices in Alcoholic Beverages and Tobacco sub group increased during the month. All the sub groups in the Non-Food Category remained almost unchanged during the month.