The overall rate of inflation as measured by the Colombo Consumer Price Index (CCPI) on year-on-year basis has recorded a significant decrease in the month of March 2024, according to the most recent figures published by the Department of Census and Statistics (DCS).
The CCPI-based inflation was calculated as 5.9% for the month of February.
According to the DCS report, the year-on-year inflation of Food Group was recorded at 3.8% in March, showing a minor increase from the 3.8% recorded in February, while the inflation of Non-Food Group decreased to -0.5% in March from 7.0% in February.
For March 2024, the contribution of inflation by food commodities was 1.19% while the contribution of Non-Food items was -0.32%. The DCS attributed this to the price decreases in groups of housing, water, electricity, gas and other fuels, transport, health, clothing and footwear, furnishing household equipment and routine maintenance, as well as the price increases in groups of alcoholic beverages, tobacco and narcotics, education, restaurants and hotels, miscellaneous goods and services, recreation and culture and communication, compared to March 2023.
CCPI March 2024 by Adaderana Online on Scribd
