Sri Lanka’s inflation eases further in June

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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 3.9 per cent in June from 4 per cent in May 2020.
This was largely due to the statistical effect of the high base prevailed in June 2019. Food inflation (Y-o-Y) increased to 10 per cent in June from 9.9 per cent in May, the Central Bank said in a statement.
Meanwhile, non-food inflation (Y-o-Y) declined to 1.4 per cent in June from 1.6 per cent in May.
The change in the CCPI measured on an annual average basis remained unchanged at 4.7 per cent in June.
“Monthly change of CCPI recorded at 0.8 per cent was mainly due to price increases observed in the items of the food category. Within the food category, prices of vegetables and fish recorded increases in June. However, it is noteworthy that the price of coconut reported a significant decline during the month,” the statement said.
Prices of items in the non-food category recorded marginal increases in June. The core inflation (Y-o-Y), which reflects the underlying inflation in the economy, increased to 3.1 per cent in June from 2.9 per cent in May.
Meanwhile, annual average core inflation declined further to its 13-month low of 4.2 per cent in June from 4.4 per cent in May.

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