Courtesy Adaderana

Sri Lanka’s headline inflation, as measured by the Year-on-Year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI), eased to 12.0% in June 2023, compared to the previous month.

The CCPI-based inflation was calculated as 25.2% for the month of May 2023.

According to the latest report issued by the Department of Census & Statistics (DCS), the Y-o-Y inflation of Food Group dropped to 4.1% in June 2023 from 21.5% in May 2023.

The Y-o-Y inflation of Non-Food Group decreased to 16.2% this month from 27.0% in March 2023.

For the month of April 2023, on Y-o-Y basis, the contribution to the inflation by food commodities was 1.42%. The contribution of Non-Food Group was meanwhile recorded as 10.59%.

The department said this decrease in the contribution of Food and Non-Food groups to the inflation was mainly due to the increases in value change in groups of housing, water, electricity, gas and other fuels, restaurants & hotels, clothing & footwear, furnishing household equipment and routine household maintenance, health, miscellaneous goods and services, education, recreation and culture, communication, education, alcoholic beverages, and tobacco.