May countrywide inflation rises to 2.1%

Sri Lanka’s country wide inflation measured by the National Consumer Price Index (NCPI) rose to 2.1 percent in May year-on-year basis, accelerating from 1.6 percent recorded in April, the Department of Census and Statistics said.

According to the government statistics office, May inflation was mainly driven by upward price revisions to the items in the non-food category. 

The change in the NCPI measured on an annual average basis decreased from 6.1 percent in April to 5.7 percent in May. 

When the monthly change is considered, the NCPI increased from 122.9 index points in April to 124.3 index points in May, largely due to the increase in prices of the items in the non-food category,

particularly that of transport (upward fuel price revision), housing, water, electricity, gas and other fuels (kerosene Oil, LP gas) and health sub-categories. 
Meanwhile, price increases were observed in the items under the food category such as vegetables, fresh fish, big onions, limes and potatoes owing to seasonal factors. 

The NCPI core inflation, which reflects the underlying inflation in the economy, decreased to 1.7 percent in May from 1.9 percent in April year-on-year. 
Meanwhile, the annual average NCPI core inflation declined to 3.1 percent from 3.3 percent in April.