Colombo’s Food Inflation Surpasses 90%

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Colombo’s food inflation accelerated to the ‘nervous’ nineties in cricketing parlance, increasing to a record 90.9 per cent year on year (YoY) to this month, Census and Statistics Department (CSD) data, released on Friday (29), showed.

Subsequently, overall inflation accelerated to a record high 60.8 per cent, beating its previous record of 50.46 per cent, established only last month. Overall inflation has also accelerated for the tenth consecutive month to this month, similar to the acceleration of Colombo’s food inflation.

CSD data further showed that the cost of a Colombo family’s budget, this month over last month increased by Rs 5,990.89. However, CSD, vis-à-vis Colombo inflation, doesn’t show the comparative YoY increase of the cost of a family’s budget, unlike its countrywide data, which data will be released only on 19 August, ie for the month of July 2022. In this connection, CSD data further showed that a family’s living expenses in Sri Lanka as a whole, increased by Rs 27,588.01 YoY to last month (June 2022).

By accelerating to 90.9 per cent this month, its YoY acceleration for the tenth consecutive month, Colombo’s food inflation beats its previous highest record of 80.1 per cent established only the last month (June 2022). In related developments, non food inflation accelerated to the fifteenth month last month to a record high 64.5 per cent, beating its previous record of 42.40 per cent established last month.

BY Paneetha Ameresekere