Food inflation (YoY [year-on-year]) increased to 12.3% in August 2020 from 10.9% in July 2020, whereas non-food inflation (YoY) decreased to 0.8% in August 2020 from 1.5% in July 2020, according to the Colombo Consumer Price Index (CCPI).
The Statistics Department said that prices of coconut, vegetables, and turmeric increased in August 2020 but prices of fresh fish and limes recorded significant declines during the month. Within the non-food category, prices of items in the health (payments to medical laboratories) subcategory declined during the month.
The monthly change of CCPI was recorded at 0.0% in August 2020. This was due to the setting off of the price increase of 0.1% in the food category with the price decline of the same magnitude observed in the non-food category.
Headline inflation as measured by the YoY change in the CCPI decreased to 4.1% in August 2020 from 4.2% in July 2020. This was mainly driven by the statistical effect of the high base that prevailed in August 2019. The change in the CCPI measured on an annual average basis remained unchanged at 4.8% in August 2020.
The core inflation (YoY), which reflects the underlying inflation in the economy, remained unchanged at 3.2% in August 2020. However, annual average core inflation declined further to 3.8% in August 2020 from 4% in July 2020.
The Statistics Department said that prices of coconut, vegetables, and turmeric increased in August 2020 but prices of fresh fish and limes recorded significant declines during the month. Within the non-food category, prices of items in the health (payments to medical laboratories) subcategory declined during the month.
The monthly change of CCPI was recorded at 0.0% in August 2020. This was due to the setting off of the price increase of 0.1% in the food category with the price decline of the same magnitude observed in the non-food category.
Headline inflation as measured by the YoY change in the CCPI decreased to 4.1% in August 2020 from 4.2% in July 2020. This was mainly driven by the statistical effect of the high base that prevailed in August 2019. The change in the CCPI measured on an annual average basis remained unchanged at 4.8% in August 2020.
The core inflation (YoY), which reflects the underlying inflation in the economy, remained unchanged at 3.2% in August 2020. However, annual average core inflation declined further to 3.8% in August 2020 from 4% in July 2020.