Food inflation surpasses 80%

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Colombo’s food inflation soared to a record high 80.1 per cent last month (June), beating its previous record of 57.4 per cent established in only the previous month (May), Census and Statistics Department (CSD) data released yesterday (30 June) showed.

According to the data, overall price increases suffered by an ordinary family living in Colombo increased by Rs 15,087.10 Year-on-Year (YoY) to last month. Consequently, overall Colombo inflation hit an all-time high of 54.6 per cent last month, beating its previous record of 39.1 per cent established only in the previous month, May 2022. 

Food inflation was aided by a family living in the District, seeing their food bill, YoY increase by Rs 8,028.05, led by their fish consumption bill increasing by Rs 1,626.74, cost of vegetables by Rs 1,432.93, bread (Rs 722.55), rice bill (Rs 691.14), and milk powder bill by Rs 526.06, among other increases.

Meanwhile, the cost of non-food items needed by an ordinary home in Colombo increased by Rs 7,059.05, YoY to last month, leading to overall price increases suffered  by an ordinary family living in Colombo increasing by Rs 15,087.10.

Non-food price increases were led by transport costs of an ordinary family increasing by Rs 3,090.98 YoY to last month, restaurant and hotel bills, including ‘bath kade’ costs increasing by Rs 1,664.45, secondary education bill up by Rs 564.18 and housing, water, electricity, gas and other fuel bills increasing by Rs 542.93. Non-food inflation increased by a record high 42.4 per cent, last month, beating its previous record of 30.6 per cent, established only in the previous month May 2022, which was 30.6 per cent. 

By Paneetha Ameresekere