Sri Lanka inflation 2.8-pct in Dec 2018

Jan 01, 2019 (LBO) - Sri Lanka's Colombo Consumer Price Index was down to  2.8 percent in December 2018 from 3.3 percent in November 2018, data shows. "The YoY inflation as measured by CCPI is 2.8 percent in December 2018 and inflation calculated for November was 3.3 percent," the latest data from the Department of Census and Statistics (DCS) said. YoY inflation of Food Group has decreased from ‐1.0 percent in November 2018 to ‐1.5 percent in December 2018 and that of Non‐food Group has decrease from 5.2  percent in November to 4.8 percent in December during this period. The CCPI for all items for the month of December 2018 was 126.3 and it records an increase of 0.1 index points that is 0.02 percentage points compared to the month of November 2018 for which the index was 126.2. This represents an increase of expenditure value by Rs.15.72 in the “Market Basket”. Increases in value change were reported for Vegetable (0.
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08%), Eggs (0.06%), Green Chilies (0.05%), Potatoes (0.03%), Rice (0.02%), Chicken (0.02%), Sea Fish (0.02%), Dry Fish (0.02%), Papaw (0.01%), Dhal Mysoor (0.01%), Tea dust/Leaves (0.01%) and Red Onions (0.01%). While decreases in value change were reported for Coconut (0.05%), Banana (0.04%), Mangoes (0.01%) and Pineapple (0.01%). The CCPI is compiled to indicate average changes in the prices of goods and services purchased by households in urban areas of Colombo district. Prices for items in the Colombo Consumer Price Index are collected from 14 selected centers located in Colombo namely Pettah, Maradana, Wellawatta, Dematagoda, Grandpass, Borella, Kirulapone, Dehiwala, Mt.Lavinia, Kotte, Nugegoda, Kolonnawa, Rathmalana, and Narahenpita and Rathmalana dedicated economic centers. Prices are collected weekly from the outlets located within each of the above market areas including Lak Sathosa and a supermarket. The consumer basket includes 392 items, which represent the typical urban household consumption expenditure. The CPI weights are derived from the Household Income and Expenditure Survey (HIES) 2012/13.