NCPI-based headline inflation was 58.9 percent year on year.
change in the National Consumer Price Index increased to 58.9%
Food inflation (year on year) increased to 75.8 %
Sri Lanka has recorded an unprecedented high rate of inflation for the month of June as indicated by the Central Bank’s report released today.(21)
Release indicated during the month of June 2022; NCPI-based headline inflation was 58.9 percent year on year. The year-on-year (Y-o-Y) change in the National Consumer Price Index (NCPI, 2013=100) increased to 58.9 percent in June 2022, up from 45.3 percent in May 2022.
This year-on-year inflation increase was driven by monthly increases in both the Food and Non-Food categories. As a result, food inflation (year on year) increased to 75.8 percent in June 2022, up from 58.0 percent in May 2022, while non-food inflation (year on year) increased to 43.6 percent in June 2022, up from 34.2 percent in May 2022.
The monthly change in NCPI was 10.91 percent in June 2022, owing to price increases in both the Food and Non-Food categories, which were 7.25 percent and 3.66 percent, respectively. As a result, prices for rice, vegetables, fresh fish, sugar, milk powder, and dried fish increased during the month in the Food category.
Furthermore, during the month, prices in the Non-Food sub-categories of Transportation (Petrol, Diesel, and Bus Fare), Furnishing, Household Equipment and Routine Household Maintenance, and Restaurants and Hotels increased.
Meanwhile, annual average inflation rose from 16.3 percent in May 2022 to 20.8 percent in June 2022.
The year-on-year core inflation rate increased to 49.3 percent in June 2022 from 37.7 percent in May 2022, while the annual average core inflation rate increased to 16.8 percent in June 2022 from 13.0 percent in May 2022.