Nov 22, Colombo: Sri Lanka's nationwide inflation in October 2017 determined under the National Consumer Price Index (NCPI) increased to 8.8 percent from 8.6 percent recorded in September on an year-on-year basis, the Department of Census and Statistics reported.
The reason for increase in inflation was attributed to the increases in food prices in October 2016.
The NCPI for all items for the month of October 2017 increased by 1.2 percent to 124.8 from 123.3 in September. The increase in the index point by 1.2 percent was due to the expenditure value increases of food items by 1.12 percent and non‐food items by 0.08 percent respectively.
Y on Y inflation of food group reported for the month of October 2017 was 14.7 percent while that for non-food group was 4.3 percent.
On year on year basis, contribution of food commodities to inflation was 6.44 percent in October 2017 compared to October 2016. Contribution of non-food items was 2.41 percent.
The moving average inflation for the month of October 2017 is 7.1 percent. The corresponding rate for the month of September 2017 was 6.8 percent.