Colombo Food Inflation now 93.7%

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Colombo’s food inflation accelerated closer to the magical 100 per cent mark last month (August 2022), accelerating for the 11th consecutive month to a record 93.7 per cent, Census and Statistics Department (CSD) data released yesterday (Wednesday, 31 August) showed.

In related developments, non-food inflation accelerated for the 16th consecutive month last month, also to a record high 50.2 per cent. Subsequently, overall inflation also accelerated, for the 11th consecutive month to a record high 64.3 per cent last month.

CSD data further showed that the cost of a Colombo family’s budget, last month over July 2022 increased by Rs 3,403.09. 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 21 September, that is, for the month of August 2022. In this connection, CSD data further showed that a family’s living expenses in Sri Lanka as a whole increased by Rs 31,437.17 YoY to July 2022.

It also said month on month to last month, a Colombo household’s expenditure for food items increased by Rs 1,149.29 and for non-food items by Rs 2,253.80 respectively.

By Paneetha Ameresekere