Inflation drops in May, CB says

Business

Headline inflation as measured by the year-on-year (Y-o-Y) change in the National Consumer Price Index (NCPI, 2013=100)1 decreased further to 5.2 per cent in May 2020 from 5.9 per cent, the previous month (April).

This was mainly driven by the statistical effect of the high base which prevailed in May, the Central Bank said this week in a media release.

Meanwhile, food inflation (Y-o-Y) declined to 11.1 per cent in May from 12.2 per cent in April and non-food inflation (Y-o-Y) also declined to 0.8 per cent in May from 1.1 per cent in April.

The CB said the change in the NCPI measured on an annual average basis increased marginally to 5.2 per cent in May from 5.1 per cent in April.

The monthly change of the NCPI was at 0.4 per cent in May mainly due to increases observed in prices of items in the food category. Accordingly, within the food category, increases were observed mainly in the prices of vegetables, fresh fish, dhal and coconut oil during May.
Core inflation (Y-o-Y) increased to 3.7 per cent in May from 3.2 per cent in April while annual average core inflation decreased to 4.8 per cent in May from 5.0 per cent in April.

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