Inflation declines to 2.8 percent in March 2018, lowest since April 2016

November 15, 2024

Economy

Inflation declines to 2.8 percent in March 2018, lowest since April 2016 ^Featured

April 24, 2018

Sri Lanka's nationwide inflation in March 2018 determined under the National Consumer Price Index (NCPI) declined to 2.8 percent from 3.2 percent recorded in February 2018 on an year-on-year basis, the Department of Census and Statistics reported Monday.Inflation of 2.8 percent reported for March 2018 is the lowest inflation reported since April 2016, Department of Census and Statistics said.

The NCPI for all items for the month of March 2018 decreased by 0.7 percent to 123.7 from 125.8 in February 2018. The decrease in the index point was due to the expenditure value decrease of food items by 0.80 percent and increase of non‐food items by 0.08 percent.

Year on Year inflation of food group has decreased from 3.7 percent in February to 2.6 percent in March 2018 and that of non-food group has increased from 2.8 percent to 2.9 percent during this month.On year on year basis, contribution of food commodities to inflation was 1.19 percent in March 2018 and contribution of non-food items was 1.59 percent. The moving average inflation for the month of March 2018 is 6.7 percent. The corresponding rate for February 2018 was 7.2 percent.