Sri Lanka to change the inflation basket next year : Island’s Stat Dept

Nov 11, 2014 (LBO) - Sri Lanka will see a new inflation basket stating from next year eliminating the Colombo Consumers Price Index (CCPI), a top official at the country’s statistics office told LBO in an interview. We are going to change the inflation basket next year and introduce a national index covering all the districts, D C A Gunawardena, Director General of Census and Statistics Department told LBO.

There is a continues price stability with the government policies introduced in 2006 and every five years we change the inflation basket,

So now it’s high time to change it. Because the inflation now measured taking 2006/2007 as the base year.

Sri Lanka inflation continued its decelerating trend observed since June 2013 and reached 1.6 per cent in October 2014 compared to 4.7 per cent in July 2014, on an annual average basis 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 decreased from 3.5 per cent recorded in September 2014 to 1.6 per cent in October 2014, which is the lowest since