Inflation hits eight-month high at 6.1%
By Paneetha Ameresekere
Countrywide inflation accelerated to an eight-month high of 6.1 per cent last month (May), year on year (YoY), Census and Statistics Department (CSD) data, released yesterday, showed. Complementing these developments, food inflation accelerated to a seven-month high of 10.3 per cent and non-food inflation to a 15- month high of 2.5 per cent, data further showed. YoY, contribution of food inflation to overall inflation last month was 4.67 per cent and that of non-food inflation, 1.38 per cent, the CSD said.
Consequently, the value of the food basket last month increased by 4.67 per cent to Rs 2,033.07; driven by the increase in rice prices by 0.91 per cent to Rs 394.57, coconuts by 0.78 per cent to Rs 341.58, vegetables by 0.63 per cent to Rs 275.13, coconut oil by 0.56 per cent to Rs 244.42, turmeric powder by 0.41 per cent to Rs 178.58 and big onions by 0.25 per cent to Rs 100.33. Transport was the biggest increase in the non-food category, up by 0.52 per cent YoY to Rs 225.75, last month.