MP Wickremaratne a little bit over on inflation

The MP in his statement claims that in April 2022 food inflation is 46.6% and in the month of May 2022 it has increased to 57%, which is an increase of more than 10% in just one month alone. 

To check this claim, FactCheck.lk consulted the Colombo Consumers’ Price Index (CCPI) Food and Non-Food Groups Inflation statistics published by the Department of Census and Statistics. 

The CCPI year-on-year (YoY) inflation is calculated by the percentage difference in the base index between the same month in two consecutive years. However, the month-on-month (MoM) inflation is calculated by the percentage difference in the base index between the two consecutive months in the same year. 

The CCPI YoY inflation recorded for the month of April 2022 is 46.6% and for May 2022 is 57.4%. These figures are in line with the MP’s claim. However, the MoM inflation increase from April to May 2022 is recorded at 9.7%. The MP could have been referring to the difference between the year-on-year inflation numbers, which is 10.8% (57.4% - 46.6%) when he cited an increase of more than 10% from April to May 2022. 

The MP is correct on the YoY inflation figures but not correct in the way he seems to have imputed the MoM inflation; even though the actual MoM inflation is very close to his claim.

Therefore, we classify the MP’s statement as Partly True

NB: At the time of publishing this fact check YoY inflation increased to 60.8% in July 2022 from 54.6% in June 2022, while YoY food inflation for the month of July was recorded at 90.9%.

*FactCheck.lk’s verdict is based on the most recent information that is publicly accessible. As with every fact check, if new information becomes available, FactCheck.lk will revisit the assessment.  

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