Sri Lanka’s inflation increases to 11.1% YoY in November

Headline inflation, as measured by the year-on-year (Y-o-Y) change in the National Consumer Price Index, increased to 11.1 per cent in November 2021 from 8.3 per cent in October 2021, according to the Statistics Department of the Central Bank of Sri Lanka. 

Meanwhile, on an annual average basis, the NCPI increased to 6.2 per cent in November 2021 from 5.7 per cent in October 2021, the statement said.

Inflation was driven by monthly increases of prices of items in both Food and Non-food categories. Subsequently, Food inflation (Y-o-Y) increased to 16.9 per cent in November 2021 from 11.7 per cent in October 2021, while Non-Food inflation (Y-o-Y) also increased to 6.2 per cent in November 2021 from 5.4 per cent in October 2021.

Monthly change of NCPI recorded at 3.14 per cent in November 2021 due to increases observed in prices of items in both Food and Non-food categories which were 2.61 per cent and 0.53 per cent, respectively. 

Accordingly, within the Food category, prices of vegetables, rice, milk powder, big onions, fresh fish and chicken increased. Further, prices of items in the Non-Food category recorded increases mainly due to price increases observed in Restaurant and Hotels and Alcoholic Beverages and Tobacco sub-categories during the month, it said.

The core inflation (Y-o-Y), which reflects the underlying inflation in the economy increased to 8.8 per cent in November 2021 from 7.2 per cent in October 2021, while annual average core inflation increased to 5.0 per cent in November 2021 from 4.6 per cent in October 2021.