Jan 24, Colombo: Sri Lanka’s nationwide inflation in December 2022 determined under the National Consumer Price Index (NCPI) declined to 59.2 percent from 65.0 percent recorded in November 2022 on a year-on-year basis, the Department of Census and Statistics reported Monday.

The NCPI for all items for the month of December 2022 remained unchanged at 256.3 from the previous month.

With respect to December 2021, the reported inflation for the month of December 2022 was mainly due to the higher price levels prevailed in both food and non-food groups.

Accordingly, the Year-on-Year inflation of the food group decreased to 59.3 percent in December 2022 from 69.8 percent in November 2022 and the Year-on-Year inflation of the non-food group decreased to 59.0 percent in December 2022 from 60.4 percent in previous month.

Contributions to the inflation rate of December 2022 from food group and non-food group are 29.52 percent and 29.62 percent respectively.

The moving average inflation for the month of December 2022 is 50.4 percent. The corresponding rate for the month of November 2022 was 46.7 percent.