The year on year(YoY) inflation based on NCPI has declined to 7.3% from 8.4% in November 2017 said Dr. Amara Satharasinghe, Director General of Census and Statistics issuing the National Consumer Price Index (NCPI), for the month of December 2017.
Before inflation decreased to 7.3% in December 2017, over 8.% inflation was reported for three months (November, October and September of 2017) consecutively. Contributions to the inflation in December 2017 from food group and non-food group were 5.7% and 1.6% respectively, whilst contributions of these two groups to the inflation in December 2016 were 1.% and 3.2% respectively, resulting headline inflation of 4.2% which reflect prevailed comparatively lower food prices particularly, prices of coconuts and vegetables in December 2016.
However, when compared to month on month changes, NCPI in December 2017 has increased to 126.6 from 126.4 reported in November 2017. This shows an increase of 0.2 index points or 0.2 percentage points in December2017 as compared to November 2017.
This month on month change was due to the increases of expenditure value of food items by 0.12% and non-food items by 0.03% respectively.
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