Sri Lanka inflation accelerates to 1.7-pct in February 2016

Mar 21, 2016 (LBO) – Sri Lanka’s consumer prices as measured by National Consumer Price Index rose 1.7 percent in February from the 0.7 percent deflation reported a month earlier on year-on-year basis, data from the state statistics office showed. The main contributor towards the increase was the Non-food category, the state statistics office said. The change in the NCPI measured on an annual average basis decreased to 2.6 percent in February from 2.9 percent recorded in January. When the monthly change in the NCPI is considered, the NCPI decreased by 1.1 percent from January to February. This monthly decline was mainly due to the decrease in prices of the items in the Food and Non Alcoholic Beverages category. Prices of vegetables, rice, green chilies, big onions, red onions, potatoes and limes decreased during the month. Prices in Alcoholic Beverages and Tobacco; Housing, Water, Electricity, Gas, and Other Fuels; Furnishing, Household Equipment and Routine Household Maintenance; Health; and Miscellaneous Goods and Services sub-categories increased during February 2016. Meanwhile, prices in Clothing and Footwear and Transport sub-categories decreased during February 2016. Prices in Communication; Recreation and Culture; Education and Restaurants and Hotels sub-categories remained unchanged during the month.