CCPI-based headline inflation soars to 54.6% in June
June 30, 2022 08:20 pm
Sri Lanka’s headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index, soared to 54.6 percent in June from 39.1 percent in May this year, the Department of Census and Statistics (DCS) said today in a press release.
This increase in Y-o-Y inflation is driven by the monthly increases of both Food and Non-Food categories.
Accordingly, food inflation (Y-o-Y) increased to 80.1 percent in June from 57.4 percent in May, while Non-Food inflation (Y-o-Y) increased to 42.4 percent in June from 30.6 percent in May.
The monthly change of CCPI was recorded at 12.8 percent in June. The month-on-month change was contributed by the price increases observed in items of both Food and Non-Food categories by 6.81 percent and 5.99 percent, respectively.
Within the Food category, prices of fresh fish, vegetables, bread, rice and milk powder increased substantially during the month. Further, prices of items in the Non-Food category recorded increases mainly due to price increases observed in the Transport (Petrol, diesel, school van fees and bus fare), Restaurant and Hotels, Education (Tuition fees for secondary education), and Housing, Water, Electricity, Gas and Other Fuel (Maintenance/reconstruction and LP gas) sub-categories.
Meanwhile, the annual average inflation rose to 18.4 percent in June from 14.2 percent in May.
According to the DCS, the core inflation (Y-o-Y), which reflects the underlying inflation in the economy increased to 39.9 percent in June from 28.4 per cent in May while annual average core inflation increased to 13.3 percent in June from 10.2 percent in May.
