CB announces further jump in inflation

Headline inflation, as measured by the year-on-year (Y-o-Y) change in the National Consumer Price Index, increased to 58.9% in June 2022 from 45.3% in May 2022, the Central Bank announced yesterday.

“This increase in Y-o-Y inflation was driven by the monthly increases of both Food and Non-Food categories. Accordingly, Food inflation (Y-o-Y) increased to 75.8% in June 2022 from 58.0% in May 2022, while Non-Food inflation (Y-o-Y) increased to 43.6% in June 2022 from 34.2% in May 2022,” the CBSL said.

Within the Food category, prices of rice, vegetables, fresh fish, sugar, milk powder and dried fish recorded increases during the month. Further, within the Non-Food category, increases were observed in prices of Transport (petrol, diesel and bus fare), Furnishing, Household Equipment and Routine Household Maintenance, and Restaurants and Hotels subcategories during the month.Meanwhile, annual average inflation rose to 20.8% in June 2022 from 16.3% in May 2022.