Sri Lanka has recorded the highest inflation rates for the year 2021 in July, the Central Bank of Sri Lanka reported.
The bank said Sri Lanka recorded surface inflation of 6.8 percent in July.
According to the Central Bank, this is an increase of 0.7 percent compared to the previous month, June.
The bank has attributed the rise in prices to both food and non-food items.
Full Statement:
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the National Consumer Price Index (NCPI, 2013=100), increased to 6.8 percent in July 2021 from 6.1 per cent in June 2021. This was driven by the monthly increases in prices of items in both the Food and Non-food categories.
Accordingly, Food inflation (Y-o-Y) increased to 11.0 per cent in July 2021 from 9.8 per cent in June 2021 and Non-Food inflation (Y-o-Y) increased to 3.2 per cent in July 2021 from 2.9 per cent in June 2021.
The NCPI, measured on an annual average basis, remained unchanged at 5.4 per cent in July 2021.
The monthly change of NCPI was recorded at 0.63 per cent in July 2021 due to increases observed in prices of items in both Food and Non-food categories.
Moreover, monthly changes of Food and Non-food categories were recorded at 0.37 per cent and 0.27 per cent, respectively. Accordingly, within the Food category, prices of sugar, vegetables, dried fish and fresh fish increased whereas, prices of coconut and coconut oil recorded decreases. Moreover, prices of items in the Non-Food category recorded an increase mainly due to price increases observed in the Transport (Petrol and Diesel) and Restaurant and Hotels sub-categories during the month.
Further, year-on-year core inflation increased to 4.4 per cent in July 2021 from 4.1 per cent in June 2021, while annual average core inflation remained unchanged at 4.4 per cent in July 2021.(NewsWire)