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Nationwide inflation declines to 7.3 percent in December 2017

Sri Lanka’s nationwide inflation in December 2017 determined under the National Consumer Price Index (NCPI) declined to 7.3 percent from 8.4 percent recorded in November on an year-on-year basis, the Department of Census and Statistics reported Monday.

The NCPI for all items for the month of December 2017 increased marginally by 0.15 percent to 126.6 from 126.6 in November. The increase in the index point was due to the expenditure value increases of food items by 0.12 percent and non‐food items by 0.03 percent.

Y on Y inflation of food group reported for the month of December 2017 was 12.8 percent while that for non-food group was 2.9 percent.

On year on year basis, contribution of food commodities to inflation was 5.67 percent in December 2017 compared to December 2016. Contribution of non-food items was 1.63 percent.

The moving average inflation for the month of December 2017 is 7.7 percent. The corresponding rate for the month of November 2017 was 7.5 percent.

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