Sri Lanka’s NCPI-based inflation increases to 70.2% in August

The Department of Census and Statistics (DSC) has released the National Consumer Price Index (NCPI) and the inflation rate for the month of August 2022.

The NCPI for all items for the month of August 2022 is 250.4 and it records an increase of 6.0 in index points compared to the month of July 2022. 

The overall rate of inflation as measured by NCPI on Year-on-Year basis is 70.2% in August 2022. In July, this had been reported as 66.7%.

The moving average inflation for the month of August 2022 is 31.3%

The NCPI for all items for the month of August 2022 is 250.4, an increase of 6.0 index points or 2.5 percentage compared to July 2022 for which the index was 244.4. 

This increase represents increase in expenditure value of Rs.1922.68 in the ‘Market Basket’.

The overall rate of inflation as measured by NCPI on Year-on-Year basis is 70.296 in August 2022 and inflation calculated for July 2022 was 66.7%. 

With respect to August 2021, the reported inflation for the month of August 2022 was mainly due to the higher price levels prevailed in both food and non-food groups.

Accordingly, the Year-on-Year inflation of the food group increased to 84.6% in August 2022 from 82.5% in July 2022 and the Year-on-Year inflation of the non-food group increased to 57.1% in August 2022 from 52.4% in July 2022.