Sri Lanka’s deflation turns to 1.7-pct inflation in October

Inflation

Oct 30, 2015 (LBO) – Sri Lanka has recorded 1.7 percent inflation in October measured by Colombo Consumer Price Index after three consecutive months of deflation.

The inflation year on year rose from negative 0.3 percent in September, mainly due to the lower base effect.

The statistics department said this is due to the elimination of the effect of reduced electricity bills and recent price increases of certain food items.

Electricity was the main contributor to deflation experienced during previous three months. Electricity contributed ‐1.3 percent to the inflation rate.

Year on year inflation of Food Group has increased from 2.0 percent in September 2015 to 2.7 percent in October 2015 while Non‐food Group increased from ‐2.2 percent to 0.8 percent.

For the month of October 2015, on year to year basis, contribution to inflation by food commodities was 1.29 percent and contribution of Non food items was 0.44 percent.

The index for all items for October was 182.1 recording an increase of 0.70 index points or a percentage of 0.38 compared to the month of September 2015 for which the index was 181.4.

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Read More: Sri Lanka’s deflation increases to 0.3 pct in Sept from 0.2 pct in Aug