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NCPI-based inflation decreases in August 

23 Sep 2021

Headline inflation as measured by the year-on-year (YoY) change in the National Consumer Price Index (NCPI), has decreased slightly to 6.7% in August 2021 from 6.8% in January 2021, as per the Department of Census and Statistics (DCS).  Meanwhile, food inflation (YoY) has increased to 11.1% in August 2021 from 11.0% in July 2021, whereas non-food inflation (YoY) has decreased to 3.0% in August 2021 from 3.2% in July 2021.  According to the DCS, the change in the NCPI, measured on an annual average basis, increased marginally to 5.5% in August 2021 from 5.4% in July 2020.  And the monthly change of the NCPI recorded at 0.36% in August 2021 was due to increases observed in prices of items in both the food and non-food categories.  Accordingly, monthly changes of food and non-food categories were recorded at 0.25% and 0.11%, respectively, in August 2021. Within the food category, increases were observed mainly in the prices of sugar, potatoes, fresh fish, mysore dhal, and chicken during August 2021. While prices of items in the non-food category recorded an increase during the month due to price increases observed in the “alcoholic beverages, tobacco, and narcotics”, “health (payments to private hospitals/nursing homes room charges), restaurants, and hotels” and “furnishing, household equipment, and routine household maintenance” sub-categories. Furthermore, YoY core inflation increased to 4.7% in August 2021 from 4.4% in July 2021, while annual average core inflation remained unchanged at 4.4% in August 2021 compared to July 2021.


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