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Headline inflation increases further 3% in Dec. 

24 Jan 2022

  • Food inflation rises to 21.5%
Headline inflation, as measured by the year-on-year (YoY) change in the National Consumer Price Index (NCPI) increased to 14% in December 2021 from 11.1% in November 2021.  Meanwhile, on an annual average basis, the NCPI increased to 7.0% in December 2021 from 6.2% in November 2021. Inflation was driven by monthly increases in prices of items in both the food and non-food categories. Subsequently, food inflation (YoY) increased to 21.5% in December 2021 from 16.9% in November 2021, while non-food inflation (YoY) also increased to 7.6% in December 2021 from 6.2% in November 2021. The monthly change of the NCPI was recorded at 3.68% in December 2021 due to increases observed in prices of items in both food and non-food categories which were 3.00% and 0.68%, respectively.  Accordingly, within the food category, prominent increases were observed in the prices of vegetables, rice, and green chillies. Further, prices of items in the non-food category recorded increases mainly due to price increases observed in the restaurants and hotels and alcoholic beverages and tobacco (arrack, betel leaves) sub-categories during the month. The core inflation (YoY), which reflects the underlying inflation in the economy, increased to 10.8% in December 2021 from 8.8% in November 2021, while annual average core inflation increased to 5.5% in December 2021 from 5.0% in November 2021.

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