Courtesy Adaderana

The overall rate of inflation, as measured by the Colombo Consumer Price Index (CCPI) on Year-on-Year basis, has decreased to -2.1% in November 2024, compared to -0.8% in October 2024, according to the latest data released by the Department of Census and Statistics.

The CCPI for all items for the month of November 2024 was 189.4 and it records a decrease of 0.5 index points or 0.25 percentage compared to the month of October 2024 for which the index was 189.9. This represents a decrease in expenditure value by Rs 427.75 in the ”Market Basket”.

The overall rate of inflation as measured by the CCPI on Y-on-Y basis is -2.1% in November 2024 and Y-on-Y inflation calculated for the month of October 2024 was -0.8%. 

The Y-on-Y inflation of Food Group decreased to 0.6% in November 2024 from 1,0% in October 2024 and the Y-on-Y inflation of Non Food Group decreased to -3.3% in November 2024 from -1.6% in October 2024.

For the month of November 2024, on Y-on-Y basis, contribution to inflation by food commodities was 0.19%.