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| Sunday, 1 January 2006 |
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Inflation up in 2005 Latest figures released by the Department of Census and Statistics reveal that inflation had increased to 11.6 percent for the year 2005 from 7.6 percent in 2004. Meanwhile the Colombo Consumers' Price Index (CCPI) for December 2005 had reached 4286.6, an increase of 2.7 percent from the previous month. A press release issued by the Department of Census and statistics said: "The Colombo Consumers' Price Index (CCPI) for the month of December, 2005 was 4286.6. This shows an increase of 113.7 index points or 2.7 percent from the November 2005 index number of 4172.9. This is an increase of Rs. 229.86 in the Expenditure Value of "Market basket" when compared to November 2005. The increase in the CCPI for December, 2005 is mainly due to increase in prices of rice, bread, condensed milk, lactogen, dried chillies, tamarind, red onions, most varieties of fresh fish, dried fish - Salaya, coconuts, potatoes and most varieties of vegetables. These price increases can be mainly attributed to short supply of locally produced agricultural consumer goods, specially the vegetables to the main markets in Colombo City due to seasonality and high demand of consumer goods in the festive season. "However, prices of limes, fresh fish - Salaya and Parati, dried fish - Koduwa and eggs have decreased during this month. However, it is to be noted that the inflation figure increased to 11.6 percent for the year 2005 from 7.6 percent in the previous year 2004. |
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