National inflation in Sept. spikes to 5%

Sri Lanka’s countrywide headline inflation as measured by the year-on-year (YoY) change in the National Consumer Price Index (NCPI) spiked to 5 percent in September, from 3.4 percent a month ago, amid price increases in both food and non-food items.

The YoY food inflation was 4.9 percent in September while the non-food inflation was recorded at 5.1 percent.

“In addition, the low base that prevailed in the corresponding month of the previous year also contributed for this increase,” the Central Bank said.

The change in the NCPI, measured on an annual average basis, increased to 2.3 percent in September, from 2.0 percent 
in August.

The monthly change of NCPI recorded 0.7 percent in September and it was due to the price increases observed in the items of both food and non-food categories.

Within the food category, the prices of vegetable, rice and big onions recorded increases.

Within the non-food category, the prices of the items in education and clothing and footwear sub-categories increased during the month.

The core inflation, which reflects the underlying inflation in the economy, declined to 5.6 percent in September, from 5.9 percent in August, on a YoY basis.

However, the annual average core inflation increased to 5.2 percent in September, from 5.0 percent in August.