Sri Lanka NCPI moving average inflation reaches one year high

Feb 22, 2017 (LBO) – Sri Lanka’s nation-wide consumer prices as measured by National Consumer Price Index rose 6.5 percent in January from a year earlier, up 4.2 percent reported a month ago, data from the state statistics office showed.

The 12-month moving average inflation for which data is available since December 2015 jumped to one-year high of 4.6 percent in January from 3.8 percent reported in December 2015, compared to 4.0 percent a month ago.

The index in January rose 1.1 percent on a monthly basis, slower from 1.2 percent rise in December.

NCPI core inflation, which reflects the underlying inflation in the economy, increased to 7.1 percent in January 2017 from 6.7 percent in December 2016.

Annual average NCPI Core inflation increased to 6.2 percent in January 2017 from 5.9 percent in December 2016.

NCPI increased from 118.0 index points to 119.3 index points from December 2016 to January 2017.

The Central Bank said this monthly increase was mainly due to the increase in prices of the items in the food category.

Within the Food category, prices of rice, coconuts, some fruits, coconut oil, green chilies, sugar and fresh fish increased during the month.

In the Non-food category, prices of items in Transport; Miscellaneous Goods and Services; Restaurants and Hotels; Recreation and Culture; Education; Clothing and Footwear; and Furnishing, Household Equipment and Routine Household Maintenance sub-categories increased.

Prices in Housing, Water, Electricity, Gas and Other Fuels (Kerosene oil); and Alcoholic Beverages and Tobacco decreased during January 2017.

Meanwhile, prices in Health and Communication sub-categories remained unchanged during the month.

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