Headline Inflation lowest in 26 Months, Decreases to 1.6% in April – Central Bank

May, 22, 2018

Sri Lanka’s Headline Inflation measured by the change in the National Consumer Price Index (NCPI, 2013=100), had reach the lowest since February 2016 decreasing to 1.6% year on year in April 2018, the Department of Census and Statistics (DCS) of Central Bank of Sri Lanka said.

Previously it was reported that Headline Inflation stood at 2.8% in March 2018 on year-on-year basis.

“The decline in the year-on-year inflation in April 2018 was mainly driven by the higher base resulted by the increase in prices of the items in the Food category during April 2017” said CBSL in its’ review adding that the change in the NCPI measured on an annual average basis decreased from 6.7 per cent in March 2018 to 6.1 per cent in April 2018.

When monthly change is considered, the NCPI had increased from 122.8 index points in March 2018 to 122.9 index points in April 2018 mainly due to the increase in prices of the items in the Non-food category, particularly that of Transport, due to fuel price increase by the LIOC and Alcoholic Beverages and Tobacco. Meanwhile, price declines were observed in Food category particularly that of vegetables, big onions and coconuts as a result of improved supply conditions

CBSL said that the NCPI Core inflation, which reflects the underlying inflation in the economy, remained unchanged at 1.9% in April 2018 on year-on-year basis. Meanwhile, annual average NCPI Core inflation declined to 3.3% in April 2018 from 3.6% in March 2018.

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