Colombo inflation dips further to 4% in August

Sep 1 (DailyMirror) – 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.

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