Sri Lanka inflation slows to 1.6-pct in April, lowest since Feb 2016

May 22, 2018 (LBO) – Sri Lanka’s headline inflation measured by National Consumer Price Index (NCPI) has decreased to 1.6 percent in April, lowest since February 2016, from 2.8 percent in March 2018. The decline in the year-on-year inflation in April 2018 was mainly driven by the higher base resulted by the increase in prices of the items in the Food category during April 2017. The change in the NCPI measured on an annual average basis decreased from 6.7 percent in March 2018 to 6.1 percent in April 2018. When monthly change is considered, the NCPI increased from 122.8 index points in March to 122.9 index points in April mainly due to the increase in prices of the items in the Non-food category. Price increases of Non-food category included Transport (fuel price increase by the LIOC); and Alcoholic Beverages and Tobacco. Price declines, however, observed in Food category particularly that of vegetables, big onions and coconuts as a result of improved supply conditions.
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The NCPI Core inflation, which reflects the underlying inflation in the economy, remained unchanged at 1.9 percent in April 2018 on year-on-year basis. Annual average NCPI Core inflation declined to 3.3 percent in April from 3.6 percent in March.