CCPI YoY inflation rises to 9.9 per cent, annual average inflation hits 5.3 per cent in Nov. 2021

Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2013=100)1, increased to 9.9 per cent in November 2021 from 7.6 per cent in October 2021. Meanwhile, the CCPI measured on an annual average basis, increased to 5.3 per cent in November 2021 from 4.8 per cent in October 2021.

Inflation was driven by monthly increases of prices of items in both Food and Non-food categories. Subsequently, Food inflation (Y-o-Y) increased to 17.5 per cent in November 2021 from 12.8 per cent in October 2021, while Non-food inflation (Y-o-Y) increased to 6.4 per cent in November 2021 from 5.4 per cent in October 2021.

Monthly change of CCPI recorded at 2.57 per cent in November 2021 due to price increases observed in items of both Food and Non-food categories which were 1.76 per cent and 0.81 per cent, respectively. Accordingly, within the Food category, prices of vegetables, rice, milk powder, big onion, chicken and fresh fish increased. Further, prices of items in the Non-Food category recorded increases mainly due to price increases observed in the Housing, Water, Electricity, Gas and Other Fuels (L.P. Gas, Maintenance/ Reconstruction) and Miscellaneous Goods and Services (Hair cutting and shaving charges) sub-categories during the month.

The core inflation (Y-o-Y), which reflects the underlying inflation in the economy, increased to 7.0 per cent in November 2021 from 6.3 per cent in October 2021. Moreover, annual average core inflation increased to 4.0 per cent in November 2021 from 3.6 per cent in October 2021.