Sri Lanka July inflation down to 4.8-pct

Inflation

Aug 01, 2017 (LBO) – Sri Lanka’s inflation as measured by Colombo Consumer Price Index dipped to 4.8 percent in July 2017 from 6.1 percent in June.

Year-on-year inflation of Food Group has decreased from 9.1 percent in June to 4.8 percent in July 2017 and that of Non‐food Group has decreased from 4.8 percent to 4.7 percent during this period, data from the state statistics office said.

For the month of July 2017, on year to year basis, contribution to inflation by food commodities was 1.46 percent and contribution of Non-food items was 3.30 percent.

This was mainly due to value change increases in groups of education (0.84%), transport (0.42%), miscellaneous goods and services (0.42%), alcoholic beverages tobacco and narcotic (0.36%), furnishing household equipment’s and routine household maintenance(0.35%), restaurants and hotels (0.33%), health (0.26%), communication (0.19%), clothing and footwear (0.14%) and recreation and culture (0.02%) and value change decrease in group of housing, water, electricity, gas and other fuels’ (0.02%.

The moving average inflation rate for the month of July 2017 was 5.4 percent while the rate for the
month of June was 5.5 percent.