Sri Lanka inflation declines in November 2014: Amid rise in food prices

Nov 29, 2014 (LBO) – Sri Lanka’s inflation, continued its decelerating trend observed since June 2013 and reached 1.5 percent in November 2014 compared to 1.6 percent in October on an annual average basis which is lowest since November 2009, the Central bank of Sri Lanka said in a media release. The data is based on the change in the Colombo Consumers’ Price Index (CCPI) (2006/07=100), which is computed by the Department of Census and Statistics.

The year-on-year inflation also decreased to 3.5 percent in November 2014 from 3.6 percent in the previous month, as a result of downgraded revision of administered prices in the non-food category, the bank said.

Prices of items in the Nonfood category decreased on average, supported by the declines in prices in the Housing, Water, Electricity, Gas and other Fuels sub group.

Downward revision of LP Gas prices with effect from October 10, 2014 contributed significantly to this decrease, the bank said.

Nevertheless, prices in Clothing and Footwear; Furnishing, Household Equipment and Routine Household Maintenance; and Health sub groups recorded increases, while Transport; Communication; Recreation and Culture; Education; and Miscellaneous Goods and Services sub groups remained unchanged during the month.

The monthly percentag