Annual average inflation remains unchanged
Inflation, as measured by the Colombo Consumers' Price Index (CCPI)
(2006/07=100) and computed by the Department of Census and Statistics
increased to 7.3 percent on a year-on-year (YoY) basis in May 2013 from
6.4 percent in the previous month.
The inflation rate on an annual average basis remained unchanged at
8.8 percent in May 2013 as recorded in the previous two months.
Core inflation on a YoY basis decreased to 5.7 percent in May 2013
from 6.1 percent in the previous month while it increased marginally on
an annual average basis to 6.6 percent in May 2013 from 6.5 percent in
April 2013.
The CCPI increased by 2.3 percent in May 2013 over the previous
month, with the Index increasing in absolute terms to 173.9 from 170.0
in April 2013. The contribution to the monthly increase in the Index
came mainly from price increases in the Non-Food category by 3.7
percent.
Within the Non-Food category, prices increased in the sub-categories
of Housing, Water, Electricity, Gas and Other Fuels (by 9.9 percent);
Recreation and Culture (by 2.7 percent); Miscellaneous Goods and
Services (by 0.4 per cent); Education (by 0.2 percent); Clothing and
Footwear (by 0.1 per cent); and Furnishing, Household Equipment and
Routine Household Maintenance (by 0.1 percent).
The increase in the sub category of Housing, Water, Electricity, Gas
and Other Fuels was due to the impact of the upward revision in the
electricity charges with effect from April 20, 2013. Meanwhile, the
prices in the sub-categories of Health; Transport; and Communication
were unchanged during the month. |