Sri Lanka's CCPI-based headline inflation records 66% in Oct 2022

02 Nov '22

2 min read

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Sri Lanka’s headline inflation, as measured by the year-on-year (YoY) change in the Colombo consumer price index (CCPI) that followed a rising trend since October 2021, declined to 66 per cent in October this year from 69.8 per cent in September, according to the Central Bank of Sri Lanka. Non-food inflation fell to 56.3 per cent YoY in October 2022 from 57.6 per cent in September.

The change in the CCPI measured on month-on-month basis decreased by 0.35 per cent in October this year after 17 consecutive months.

The non-food category recorded a monthly increase in October this year due to the price increases observed in communication, clothing and footwear, restaurant and hotels sub-categories during the month.

However, transport sub-category decreased in October, contributing to moderate the overall monthly increase in the non-food category to a greater extent, the central bank said in a note.

Meanwhile, annual average inflation rose to 38.3 per cent in October this year from 33.4 per cent in September.

Core inflation (YoY), which reflects the underlying inflation in the economy decreased to 49.7 per cent in October from 50.2 per cent in September, while annual average core inflation increased to 27.8 per cent in October from 24.1 per cent in September this year.

Fibre2Fashion News Desk (DS)