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Central Bank of Sri Lanka : Inflation in December 2019

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01/21/2020 | 08:44am EST

Communications Department

30, Janadhipathi Mawatha, Colombo 01, Sri Lanka. Tel : 2477424, 2477423, 2477311

Fax: 2346257, 2477739

E-mail: dcommunications@cbsl.lk, communications@cbsl.lk

Web: www.cbsl.gov.lk

Press Release

Statistics Department

2020-01-21

Inflation increased in December 2019

Headline Inflation

Year-on-year inflation : 6.2%

Annual Average inflation : 3.5%

Monthly Change : 1.6%

Core Inflation

Year-on-year inflation : 5.2%

Annual Average inflation : 5.7%

Monthly Change : -0.3%

Movement of Year-on-Year % Change in

10.0

NCPI

Per cent

5.0

0.0

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb

Mar Apr May Jun Jul Aug Sep Oct Nov Dec

-5.0

2018

2019

-10.0

Headline

Food

Non-food

Contribution to Month-on-Month %

Change in NCPI

2.0

1.6

cent

1.5

0.8

1.0

Per

0.5

0.0

-0.5

Nov-19

Dec-19

Food

Non-food

Headline inflation as measured by the year- on-year(Y-o-Y) change in the National Consumer Price Index (NCPI, 2013=100)1 increased to 6.2 per cent in December 2019 from 4.1 per cent in November 2019. This was driven by monthly increase of prices of items in the Food category along with the statistical effect of the low base prevailed in December 2018. Food inflation (Y-o-Y) increased substantially to 8.6 per cent in December 2019 from 4.0 per cent in November 2019, while Non-food inflation (Y-o-Y) remained unchanged at 4.2 per cent.

The change in the NCPI measured on an annual average basis increased to 3.5 per cent in December 2019 from 3.0 per cent in November 2019.

Monthly change of NCPI recorded at 1.6 per cent in December 2019 and it was solely due to the price increases observed

1The National Consumer Price Index (NCPI, 2013=100) is compiled by the Department of Census and Statistics.

in the items of the Food category caused by adverse weather conditions prevailed during December 2019. Within the Food category, prices of vegetables, rice, red onions, coconuts and fish recorded increases in December 2019. Meanwhile, prices of items in the Non-Food category recorded a decrease during the month owing to price decreases of the items in Communication; Housing, Water, Electricity, Gas and other fuels; Health; and Miscellaneous Goods and Services subcategories due to downward tax revisions introduced by the government with effect from 01st December 2019.

The core inflation, which reflects the underlying inflation in the economy, decreased to 5.2 per cent in December 2019 from 5.5 per cent in November 2019 on year-on-year basis. However, annual average core inflation increased to 5.7 per cent in December 2019 from 5.6 per cent in November 2019.

Movements of the NCPI

Base: 2013 = 100

Index Number

Monthly

Year-on-Year

Annual Average

Percentage Change

Percentage Change

Percentage Change

Year

Month

NCPI

NCPI

NCPI

NCPI

NCPI

NCPI

NCPI

NCPI

(Core)

(Core)

(Core)

(Core)

2017

December

126.6

123.8

0.2

0.0

7.3

2.7

7.7

4.9

2018

January

125.8

123.9

-0.6

0.1

5.4

2.1

7.6

4.5

February

123.7

124.4

-1.7

0.4

3.2

2.0

7.2

4.1

March

122.8

124.6

-0.7

0.2

2.8

1.9

6.7

3.6

April

122.9

124.8

0.1

0.2

1.6

1.9

6.1

3.3

May

124.3

125.1

1.1

0.2

2.1

1.7

5.7

3.1

June

126.5

125.3

1.8

0.2

2.5

1.8

5.3

2.9

July

126.6

125.7

0.1

0.3

3.4

2.3

5.1

2.7

August

125.4

126.3

-0.9

0.5

2.5

2.7

4.7

2.5

September

124.4

126.9

-0.8

0.5

0.9

3.1

4.0

2.4

October

124.9

127.3

0.4

0.3

0.1

3.4

3.3

2.4

November

127.7

127.6

2.2

0.2

1.0

3.1

2.7

2.4

December

127.1

127.6

-0.5

0.0

0.4

3.1

2.1

2.4

2019

January

127.3

130.2

0.2

2.0

1.2

5.1

1.8

2.7

February

126.7

131.3

-0.5

0.8

2.4

5.5

1.7

3.0

March

126.4

131.8

-0.2

0.4

2.9

5.8

1.7

3.3

April

127.3

132.6

0.7

0.6

3.6

6.3

1.9

3.7

May

128.7

133.0

1.1

0.3

3.5

6.3

2.0

4.0

June

129.2

133.0

0.4

0.0

2.1

6.1

2.0

4.4

July

129.4

133.4

0.2

0.3

2.2

6.1

1.9

4.7

August

129.7

133.7

0.2

0.2

3.4

5.9

2.0

5.0

September

130.6

134.0

0.7

0.2

5.0

5.6

2.3

5.2

October

131.9

134.4

1.0

0.3

5.6

5.6

2.8

5.4

November

132.9

134.6

0.8

0.1

4.1

5.5

3.0

5.6

December

135.0

134.2

1.6

-0.3

6.2

5.2

3.5

5.7

Source: Department of Census and Statistics

Disclaimer

Central Bank of Sri Lanka published this content on 21 January 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 January 2020 13:43:02 UTC

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