Crisis-hit SL’s food inflation soars, now at 95%

Crisis-hit Sri Lanka’s food inflation (Y-o-Y) increased to 94.9 per cent in September 2022 from 93.7 per cent in August 2022, while non-food inflation (Y-o-Y) increased to 57.6 per cent in September from 50.2 per cent in August, the Central Bank said in a statement on Friday.

The country has been hit by multiple crises precipitated by economic uncertainties.

Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2013=100)1 increased to 69.8 per cent in September from 64.3 per cent in August 2022.

The monthly change of the CCPI recorded at 3.77 per cent in September due to price increases observed in items of both food and non-food categories.

Accordingly, within the food category, increases were observed in prices of Fruits, Chicken and Wheat Flour.

However, prices of Rice, Dhal and Sugar decreased during the month. Further, within the non-food category, increases were observed in prices of Housing, Water, Electricity, Gas and Other Fuels (Electricity bill, Water bill and Kerosene oil), Restaurant and Hotels, Health, Education (International School fees), Communication (Telephone charges), and Miscellaneous Goods and Services sub-categories during the month.

Meanwhile, annual average inflation rose to 33.4 per cent in September from 28 per cent in August.

Core inflation (Y-o-Y), which reflects the underlying inflation in the economy increased to 50.2 per cent in September from 46.6 per cent in August, while annual average core inflation increased to 24.1 per cent in September from 20.3 per cent in August.