Headline inflation measured by the year-on-year(Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2013=100)1increasedto6.2 percent in February2020 from 5.7percent in January 2020. This was solely driven by the statistical effect of the low base prevailed in February 2019.Food inflation(Y-o-Y) stood at 14.7 per cent in February2020,whileNon-food inflation (Y-o-Y) recorded at 2.8per cent.
The change in the CCPI measured on an annual average basis increased to 4.6percent in February2020 from 4.5 per cent in January 2020. Monthly change of CCPI recorded at 0.0 per cent in February 2020.
Setting off the price effects of items in the food category, which declined by 0.2 per cent while the prices in non-food category increased by the same magnitude.
Within the Food category, prices of vegetables, rice, big onions, potatoes, sea fish and red onions recorded decreases in February2020.However, prices of items in the Non-Food category recorded increases during the month owing to price increases of the items in Transportation (airline fair); Clothing and Footwear and Recreation and Culture sub-categories.
The core inflation, which reflects the underlying inflation in the economy, increased to 3.2per cent in February2020 from3.0 per cent in January 2020 on year-on-year basis. However, annual average core inflation decreased to 5.1per cent in February2020 from 5.3 per cent in January 2020.
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