The Year on Year (YoY) inflation as measured by Colombo Consumer Price Index (CCPI) increased from July which was 4.8% to 6% in August 2017.
YoY inflation of food group has increased from 4.8% in July to 6.9% in August 2017 and non‐food group has increased from 4.7% to 5.7% during this period. For the month of August 2017, on year to year basis, contribution to inflation by food commodities was 2.07%.
The contribution of Nonfood items was 3.96%. This was mainly due to value change increases in groups of ‘education’ (0.90%), ‘health’ (0.55%), ‘transport’ (0.46%), ‘miscellaneous goods and services’ (0.44%), ‘communication’ (0.43%), ‘alcoholic beverages tobacco and narcotic’ (0.36%), ‘furnishing household equipment’s & routine household maintenance’ (0.36%), ‘restaurants & hotels’ (0.34%), ‘clothing and footwear’ (0.11%), ‘recreation & culture’ (0.03%) and value change decrease in group of ‘housing, water, electricity, gas and other fuels’ (0.02%).
The moving average inflation rate for the month of August 2017 was 5.5%.
The corresponding rate for the month of July was 5.4%. Among Non Food groups, value decrease was reported for group of ‘Housing, Water, Electricity, Gas and Other Fuels’ (0.01%).
Increases in value changes were reported for ‘health’ (0.23%), ‘transport’ (o.o6%), ‘education’ (0.05%), ‘furnishing household equipment and routing household maintenance’ (0.01%) and miscellaneous goods and services’ (0.01%).
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