CCPI based Inflation increased to 5.7 per cent in July 2021

August, 2, 2021

Headline inflation, as measured by the year-onyear (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2013=100)1 , increased to 5.7 per cent in July 2021 from 5.2 per cent in June 2021. This was driven by monthly increases of prices of items in the Non-food category. Subsequently, Food inflation (Y-o-Y) decreased to 11.0 per cent in July 2021 from 11.3 per cent in June 2021, while Non-food inflation (Y-o-Y) increased to 3.2 per cent in July 2021 from 2.5 per cent in June 2021.

The CCPI, measured on an annual average basis, increased marginally to 4.2 per cent in July 2021 from 4.1 per cent in June 2021.

Monthly change of CCPI recorded at 0.50 per cent in July 2021 due to price increases observed in items of the Non-food category. Moreover, monthly changes of Food and Non-food categories recorded at -0.05 per cent and 0.55 per cent, respectively. Accordingly, within the Food category, prices of coconut, fresh fish and coconut oil decreased. Meanwhile, prices of items in the Non-Food category recorded an increase during the month due to price increases observed in the Transport (Petrol) and Restaurant and Hotels subcategories.

The core inflation (Y-o-Y), which reflects the underlying inflation in the economy, increased to 3.7 per cent in July 2021 from 3.2 per cent in June 2021. Moreover, annual average core inflation increased marginally to 3.1 per cent in July 2021 from 3.0 per cent in June 2021.

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