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Inflation up 0.5% from October: Department of Census and Statistics

22 Dec 2020

The National Consumer Price Index (NCPI) for all items for November 2020 was 139.8, an increase of 0.7 index points or 0.5% compared to October, which was 139.1. The Department of Census and Statistics (DCS) reports that the overall rate of inflation as measured by the NCPI on a year-on-year (YoY) basis is 5.2% for November 2020, down from 5.5% in October 2020. The moving average inflation for November 2020 was reported at 6.3%, up 0.1% from October. The month-on-month change in index value saw contributions of 0.34% for food items and 0.13% for non-food items, respectively.   On YoY basis, contribution of food commodities to inflation was 4.18% in November 2020 compared to November 2019. Furthermore, YoY inflation for the food group dropped from 10.6% in October to 9.4% in November, whereas for the non-food group it increased from 1.5% to 1.7% during this period. The DCS released the numbers and inflation rate for November 2020 yesterday (21). The national consumer basket includes 407 items which represent the consumption expenditure of all households in Sri Lanka. The NCPI is being released monthly from October 2015 with a time lag of 21 days. The NCPI has adopted new methods consistent with international best practices.


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