Apr 21, Colombo: Sri Lanka's nationwide inflation in March 2017 determined under the National Consumer Price Index (NCPI) slightly increased to 8.6 percent from 8.2 percent recorded in February on an year-on-year basis, the Department of Census and Statistics data released on Friday showed.
During the year 2016, the lowest price level was reported for the month of March and this can be considered as the main reason for the observed slight increase in inflation reported for the March 2017, the Census and Statistics Department statement said.
The NCPI for all items for the month of March 2017 decreased marginally by 0.35 percent to 119.5 from 119.9 in February. This monthly change was due to the decrease of expenditure value of food items by 0.38 percent and expenditure value increase of non‐food items by 0.03%.
Year-on-year inflation of food group reported for the month of March 2017 was 11.2 percent while that for nonfood group was 6.7 percent.
On year on year basis, contribution of food commodities to inflation was 4.88 percent in March 2017 compared to March 2016.
The moving average inflation for the month of March 2017 is 5.6 percent.