Sri Lanka inflation up 5.4-pct in July

Aug 01, 2018 (LBO) - The year on year inflation as measured by CCPI is 5.4 percent in July 2018 while inflation calculated for June was 4.4 percent, data shows. The CCPI for all items for the month of July 2018 was 125.8 and it records an increase of 0.4 index points that is 0.29 percentage points compared to the month of June 2018 for which the index was 125.4. "This represents an increase of expenditure value by 220.20 rupees in the “Market Basket”," the state information office said in a statement. YoY inflation of food group has increased from 2.9 percent in June 2018 to 5.6 percent in July 2018 and that of non‐food group increased from 5.0 percent in June to 5.3 percent in July during this period. Increases in value change were reported for Sea Fish (0.15%), Vegetables (0.11%), Green Chilies (0.09%), Banana (0.05%), Egg (0.03%), Papaw (0.03%), Potatoes (0.03%), Big Onion (0.03%), Chicken (0.01%),  Canned fish (0.01%) and Pineapple (0.01%) while decreases in value change were reported for Coconut (0.20%), Rice (0.05%), Limes (0.04%), Gram (0.01%) and Pepper (0.01%).   2.4 Contribution of Non Food items: 0.03% Among Non‐Food groups, increases in value change were reported for ‘Restaurant and Hotels’ (0.15%) and ‘Clothing and ‘Footwear’ (0.02%) while decrease in value change reported in ‘Housing Water Electricity Gas and Other Fuels’ (0.09%), ‘Health’ (0.02%) and ‘Transport’ (0.02%). ‘Alcoholic Beverages Tobacco and Narcotics’ and ‘Furnishing, Household Equipment and Routine House Hold Maintenance’ groups showed an insignificant value change while other groups remain unchanged during the period. 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.