The currently used index, Colombo Consumer Price Index (CCPI), prepared by the Department of Census and Statistics for the calculation of changes in the price level and inflation, only depicts the price changes in Colombo municipal area.

According to the Census and Statistics Department, the CCPI is compiled to indicate average changes in the prices of goods and services purchased by households in urban areas of Colombo district.

Prices for items in the CCPI are collected weekly from 14 selected centers located in Colombo and the index does not represent the national level changes.

Therefore, Prime Minister Ranil Wickremesinghe, in his capacity as the Minister of National Policies and Economic Affairs, has proposed to introduce a National Consumer Price Index and the cabinet of ministers has approved the Prime Minister's proposal.

The proposed NCPI would use 2013 as its base year as the new index will be declared on 21st of each month starting from 21 November 2015.