CCPI-based inflation slows to 61% in November

Sri Lanka’s headline inflation, based on the Colombo Consumer Price Index (CCPI), has decreased to 61.0% in November 2022 from 66.0% in October 2022, according to the Department of Census and Statistics.

Meanwhile, food inflation has dropped to 73.7% in November, compared to 85.6% in October, it said, quoting the latest data.

The CCPI for all items for the month of November 2022 was 242.6, a decrease of 1.2 in index points. The overall rate of inflation as measured by CCPI on a year-on-year (YoY) basis is 61.0% in November 2022.

The CCPI in November 2022 decreased to 242.6 from 243.8 in October 2022, while YoY inflation decreased to 61.0% in November 2022 from 66.0% in October 2022.

The report said that the month-on-month (MoM) change saw -0.53% contribution from food and 0.03% from non-food items, while core Inflation decreased to 49.4% in November 2022 from 49.7% in October 2022.

The general price level has increased by 142.6% compared to the base year (2013).

The CCPI is an economic indicator constructed to measure inflation, which is defined as percentage change in CCPI over the year.

There are two measures of inflation in general use. One measure is the YoY base or point-to-point inflation (the percentage change in the index during the last 12 months). The other measure is Moving Average Inflation (the percentage difference between the average price index of the last 12 months and the average Price Index of the previous 12 months).

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