Economy

June inflation up 9.3 percent

02 Jul 2012 - {{hitsCtrl.values.hits}}

Sri Lanka’s inflation for the month of June rose to 9.3 percent Year-on-Year, a 41 month high, amidst price increases in some food items, the data released by the Census and Statistics Department showed.

Inflation, as measured by the Colombo Consumers’ Price Index (CCPI) increased to 5.8 percent in June 2012, on an annual average basis, from 5.6 percent in the previous month, the Census and Statistics Department stated.

Meanwhile, core inflation, decelerated for the ninth consecutive month to 5.7 percent in June 2012, on an annual average basis, from 6 percent in May 2012, while increasing on a YoY basis to 5.8 percent in June 2012 from 4.8 percent in the previous month.

The general price level as indicated by the Index recorded an increase of 1.9 percent in June 2012 over that of the previous month, with the CCPI increasing in absolute terms to 165.2 from 162.1, the department said.

The contribution to the monthly increase in the Index came mainly from price increases in the Food and Non-Alcoholic Beverages category (by 3.8 percent) followed by the Non-Food category (by 0.4 percent).

It further stated that rise in the prices of fresh fish, eggs, vegetables, lime, green chilies, red onion, big onion and potatoes due to seasonal factors and the upward revision in the prices of wheat flour, bread and milk powder, contributed to the increase in the CCPI.

However, a decline in the prices of fruits, leafy vegetables and sugar was also reported during the month.

Within the Non-Food category, prices increased in the sub-categories of Housing, Water, Electricity, Gas and Other Fuels (by 1 percent), Clothing and Footwear (by 0.5 percent), Miscellaneous Goods and Services (by 0.4 percent), Furnishing, Household Equipment and Routine Household Maintenance (by 0.3 percent) and Health (by 0.1 percent).

Meanwhile, the prices in the sub-categories of Transport, Communication, Recreation and Culture, and Education remained unchanged during the month, the Census Department noted.

Economy

June inflation up 9.3 percent

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