Year on Year inflation based on the National Consumer Price Index (NCPI) has increased to 6.5% in January 2017 from 4.2% in December 2016.
Census and Statistics Director General Dr. Amara Satharasinghe said the reason for increase in inflation was due to the comparatively lower price levels prevailed in January 2016. In January 2016 contribution to inflation from food group was -1.9% and non-food group was 1.2%.
Contribution to inflation from food group and non-food group are 2.9% and 3.6% respectively in January 2017.
The NCPI has been calculated as 119.3 for January 2017.This shows an increase of 1.3 index points or a percentage of 1.1 compared to the previous month’s (December) index of 118.0. This monthly change was due to the increases of expenditure value of food items by 0.78% and non-food items by 0.35% respectively.
The increase in expenditure value of food commodity group in January 2017 compared to that of December 2016 was due to the price increases in rice, coconuts, banana, coconut oil, green chilies, sugar, fresh fish, papaw, dried fish, potatoes and garlic. However, price decreases were reported for vegetables, limes, chicken, eggs, big onions, red onions, mangoes and dried chillies.
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