Sri Lanka’s inflation surges to 3.2-pct in January 2015: Central Bank

Jan 31, 2015 (LBO) –Sri Lanka inflation increased to 3.2 percent in January 2015 from 2.1 per cent in December 2014, on a year-on year basis, as a result of the increase in food prices, the Central Bank said in a media release. The data is based on the change in the Colombo Consumers’ Price Index (CCPI) (2006/07=100), which is computed by the Department of Census and Statistics.

Annual average inflation declined marginally from 3.3 per cent recorded in December 2014 to 3.2 per cent in January 2015.

The monthly change in CCPI in January 2015 was 1.7 per cent, mainly due to the increase in fresh food items.

Particularly, prices of all vegetable varieties, green chilies, big onions, red onions, potatoes, eggs and coconuts increased during the month, the regulator said.

Within the Non-food category, Clothing and Footwear; Recreation and Culture; Education and Miscellaneous Goods and Services sub groups recorded increases in average prices, while Furnishings, Household Equipment and Routine Household Maintenance; Health and Communication sub groups remained unchanged during the month.

Nevertheless, reflecting the downward revision of fuel prices, average prices in Housing, Water, Electricity, Gas and oth