Falling prices of kerosene oil, diesel, petrol and gas in September 2009 contributed to record low levels of inflation, according to the Department of Census and Statistics (DCS). Inflation as reflected in the Colombo Consumer Price Index (CCPI) hit all-time lows in September 2009 with point to point inflation coming in at 0.7% from 0.9% the previous month and the 12 month moving average registering at 6.6% from 8.5%.
According to a press release from the Department of Census and Statistics (DCS), kerosene oil, diesel, petrol and gas came down by 36%, 34%, 17% and 17% respectively. The CCPI index moved up to 208.6 points in September from 208.1 points in August.
The press release stated that the price of food commodities recorded increases due to the high cost of production of agricultural consumer goods, especially rice and coconut from the main producing areas from August to September.
On average, expenditure value on items in the food group increased by Rs.37.15. Retail prices of rice, coconut, eggs and chicken increased due to the demand generated from the Ramazan festival in September. Among the food commodities, rice, milk powder, coconuts and coconut oil which have significant weights in the CCPI basket recorded price decreases on a year to year basis. Point to point inflation in September 2008 was 24.3% while the 12 month moving average in September last year was 23.2%. |
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