Sri Lanka to introduce National Consumer Price Index

Inflation

Oct 22, 2015 (LBO) – Sri Lanka is to introduce a new National Consumer Price Index to represent the national level changes in the inflation.

The cabinet nod has been given to consider its base year as 2013 and from 21 November 2015 to declare the proposed index on 21st of each month.

The current Colombo Consumer Price Index is prepared by the Department of Census and Statistics for the calculation of changes in the price level and inflation.

Although it depicts the price changes in Colombo municipal area it does not represent the national level changes.

The proposal has been made by Prime Minister Ranil Wickremesinghe, in his capacity as the Minister of National Policies and Economic Affairs.

Sri Lanka recorded a deflation for the past three months.