Financial Times

Lankan inflation remains low in July


The rate of inflation, as measured by the point-to-point change in the Colombo Consumers’ Price Index (CCPI) and prepared by the Department of Census and Statistics, remained low in July at 1.1 % after a 5-year low of 0.9 % in June.

The annual average inflation rate declined further to 10.4 %, compared to 12.5 % in June, continuing its decelerating path recorded since November 2008. The CCPI increased marginally by 0.4 % over the previous month, with the index moving upward to 208.7 from 207.8 in June, 2009. The positive contributions to the monthly increase in the index arose from the sub categories of Health, Transport, and Housing, water, electricity, gas and other fuels. More specifically, increases were recorded in the payments to private hospitals and consultation fees to specialists.

The fuel and gas prices were also increased since the first week of July. However, the full impact of these increases on the index was partly off-set by price decreases in Food and Non alcoholic beverages, the Central Bank said in a press release.

Core inflation, on a point-to-point basis, fell to 6 % in July, compared to 7.7 % in June. The monthly core inflation reached 1.1 % while the annual average core inflation eased further to 14.2 % in July 2009 from 15.2 % in the previous month.

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