CCPI accelerates to 5.7% in July
By Mario Andree
The Colombo Consumer Price Index (CCPI) accelerated to 5.7 per cent in July this year from 5.2 per cent year-on-year (Y-O-Y) in June as non-food inflation increased as against food inflations declining.
According to statistics released by the Department of Census and Statistics, food items posted inflation of 11 per cent Y-O-Y in July, down from 11.3 per cent recorded during the previous month.
Inflation on non-food items increased to 3.2 per cent Y-O-Y during July from 2.5 per cent recorded in June this year.
The 12-month moving average inflation in July this year accelerated to 4.2 per cent from 4.1 per cent a month earlier, as non-food inflation rose to 1.7 per cent from 1.6 per cent though food inflation remained unchanged at 9.9 per cent.
The Colombo Consumer Price Index accelerated to 143.1 index points in July from 142.4 index points in June this year, which represents an increase in expenditure value of Rs 428.25 in the ‘Market Basket’.
On a year-on-year basis, the contribution of food commodities to inflation was 3.41 per cent in July 2021, compared to that of July 2020, while the contribution from non-food items was 2.22 per cent.