Headline inflation as measured by the year on-year (Y-o-Y) change in the Colombo Consumer Price Index increased to 6.2 per cent in February 2020 from 5.7 per cent in January 2020.
This was solely driven by the statistical effect of the low base prevailed in February 2019. Food inflation (Y-o-Y) stood at 14.7 per cent in February 2020, while Non-food inflation (Y-o-Y) recorded at 2.8 per cent.
The change in the CCPI measured on an annual average basis increased to 4.6 per cent in February 2020 from 4.5 per cent in January 2020.
Monthly change of CCPI recorded at 0.0 per cent in February 2020. Setting off the price effects of items in the food category, which declined by 0.2 per cent, the prices in non-food category increased by the same magnitude
Change in CCPI Food Non-food potatoes, sea fish and red onions recorded decreases in February 2020. However, prices of items in the Non-Food category recorded increases during the month owing to price increases of the items in Transportation (airline fair); Clothing and Footwear; and Recreation and Culture subcategories.
The core inflation, which reflects the underlying inflation in the economy, increased to 3.2 per cent in February 2020 from 3.0 per cent in January 2020 on year-on-year basis. However, annual average core inflation decreased to 5.1 per cent in February 2020 from 5.3 per cent in January 2020.
(LI)