November inflation put at 3.4%

Thursday, 1 December 2016 00:04 - - {{hitsCtrl.values.hits}}

Inflation, as measured by the change in the Colombo Consumers’ Price Index (CCPI), declined to 3.4% in November 2016 from 4.2% in the previous month, the Department of Census and Statistics reported on Wednesday.

The CCPI for all items for November 2016 was 190.7, recording an increase of 1.2 index points or 0.63% compared to October 2016 for which the index was 189.7.

The decrease in index point was due to the increase of food items by 0.02% and an increase of non-food items by 0.61%.

Year-on-Year inflation of the Food Group has decreased to 2.9% in November from 6.0% in October 2016 while the Non-food Group increased from 2.5% to 3.8% during this period.

The moving average inflation rate for November 2016 remained unchanged from October at 3.6%.

The Department of Census and Statistics has commenced releasing the National Consumer Price Index (NCPI) from October 2015 with a time lag of 21 days. However, CCPI is released on the last working day of each month.