Colombo inflation dips further to 4% in August
Posted on August 31st, 2023
Courtesy AdaDerana
Sri Lanka’s Department of Census and Statistics says that headline inflation based on the Colombo Consumer Price Index (CCPI) has further reduced to 4% in August, compared to 6.3% in July 2023.
According to its latest report, Colombo’s food Inflation has decreased to -4.8% in August, from -1.4% in July 2023.
The CCPI for all items for the month of August 2023 was 190.1 and it records a decrease of 0.1 in index points. Meanwhile the overall rate of inflation as measured by CCPI on Y-on-Y basis is 4.0% in August 2023.
The CCPI for all items for the month of August 2023 was 190.1 and it records a decrease of 0.1 index points that is 0.02 percentage change compared to the month of July 2023 on an expenditure value basis for which the index was 190.2. This represents a decrease of expenditure value by Rs 39.08 in the Market Basket”.
The month-on-month change was contributed by decrease in Food items by 0.41% and increase in Non Food items by 0.39%.
The overall rate of inflation as measured by the CCPI on Y-on-Y basis is 4.0% in August 2023 and Y-on-Y inflation calculated for the month of July 2023 was 6.396.
The Y-on-Y inflation of Food Group decreased to 4.8% in August 2023 from -1.4% in July 2023 and the Y-on-Y inflation of Non Food Group decreased to 8.7% in August 2023 from 10.5% in July 2023.