Colombo inflation accelerates 2.0-pct in March 2016

Mar 31, 2016 (LBO) – Consumer prices in Sri Lanka’s capital Colombo has accelerated 2.0 percent in March 2016 from a year earlier, down from 2.7 percent in February 2016 with the inflation index dropping 1.1 percent in the month, the state statistics office said.

As per the statistics office, Year on year inflation of Food Group has increased from 0.8 percent in February 2016 to 1.4 percent in March 2016 while Non‐food Group decreased by 4.6 percent to 2.5 percent during this period.

For the month of March, on year to year basis, contribution to inflation by food commodities was 0.68 percent while contribution of Nonfood items was 1.33 percent.

The CCPI for all items for the month of March 2016 was 181.7 recording a decrease of 2.1 index points or a percentage of ‐1.16 compared to the month of February 2016 for which the index was 183.8.

This decrease represents an expenditure value of 595.20 rupees in the “Market Basket”.

The index point decreased by 1.16 percent during the month of March and this was due to the decrease of food items by 1.10 percent and decrease of non‐food items by 0.06 percent.