Sri Lanka NCPI down 0.1-ct in Oct 2018

Nov 23, 2018 (LBO) - The National Consumer Price Index (NCPI) , for the month of October 2018, has declined to 0.1 percent from 0.9 percent in September 2018, Director General of Census and Statistics department said. Contributions to the inflation in October 2018 from food group and non-food group are -3.04 percent and 3.10 percent respectively, whilst contributions of these two groups to the inflation in October 2017 were 6.4 percent and 2.4 percent respectively, resulting headline inflation of 8.8 percent. When compared to month on month changes, NCPI in October 2018 has increased to 124.9 from 124.4 reported in September 2018. This shows an increase of 0.5 index points that is 0.4 percentage points in October 2018 as compared to September 2018. This month on month change was contributed by decreases of expenditure value of food items by 0.03 percent and increases of non-food items by 0.42 percent respectively. The decreases in expenditure value of food items were reported Fresh Fish, Eggs, Coconuts, Papaw, Potatoes, Dried Fish, Chicken, Big Onion, Coconut Oil and Wheat Flour. However, increases in expenditure value in index were reported for Limes, Vegetables, Rice, Sugar, Banana, Bread (Normal), Cinnamon, Pineapple, Green Chilies, Tamarind, Jak and Jak seeds and Garlic. The increases in expenditure value of non food items in October 2018 compared to the previous month was due to the expenditure value increases in groups of ‘Transport’, ‘Miscellaneous Goods and Services’, ‘Alcoholic beverages, Tobacco and Narcotics’, ‘Housing, Water, Electricity, Gas and Other Fuels’, ‘Restaurants & Hotels’ and ‘Clothing & Footwear’.