Inflation decreases in April | Daily News


 

Inflation decreases in April

Headline inflation as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2013=100)1 declined to 5.2% in April 2020 from 5.4% in March 2020. This was solely driven by the statistical effect of the high base prevailed in April 2019.

Meanwhile, Food inflation (Y-o-Y) recorded at 13.2 per cent in April 2020 and Non-food inflation (Y-o-Y) declined to 2.1 per cent in April 2020 from 2.5 per cent in March 2020. The change in the CCPI measured on an annual average basis increased marginally to 4.8 per cent in April 2020 from 4.7 per cent in March 2020. Monthly change of CCPI recorded at 0.1 per cent was due to price increases observed in the items of the Food category. Within the Food category, prices of coconut, condiments, coconut oil

CCPI based Inflation decreased in April 2020 Headline inflation as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2013=100)1 declined to 5.2 per cent in April 2020 from 5.4 per cent in March 2020. This was solely driven by the statistical effect of the high base prevailed in April 2019.

Meanwhile, Food inflation (Y-o-Y) recorded at 13.2 per cent in April 2020 and Non-food inflation (Y-o-Y) declined to 2.1 per cent in April 2020 from 2.5 per cent in March 2020. The change in the CCPI measured on an annual average basis increased marginally to 4.8 per cent in April 2020 from 4.7 per cent in March 2020. Monthly change of CCPI recorded at 0.1 per cent was due to price increases observed in the items of the Food category.

Within the Food category, prices of coconut, condiments, coconut oil and dried fish recorded increases in April 2020. However, timely intervention of the government to reduce prices of certain food items, such as rice, dhal, big onion and canned fish, amidst COVID-19 outbreak moderated the price increases observed in the food category.

Meanwhile, prices of items in the Non-Food category, which usually exhibit increases in the month of April with seasonal demand, remained unchanged due to lockdown imposed with the COVID-19 outbreak. The core inflation (Y-o-Y), which reflects the underlying inflation in the economy, increased to 3.1 per cent in in April 2020 from 2.9 per cent in March 2020.

However, annual average core inflation declined to its five month low of 4.7 per cent in April 2020 from 4.9 per cent in March 2020


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