Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2013=100) increased to 69.8% in September 2022 from 64.3% in August 2022. 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 94.9% in September 2022 from 93.7% in August 2022, while Non-Food inflation (Y-o-Y) increased to 57.6% in September 2022 from 50.2% in August 2022.
Monthly change of CCPI recorded at 3.77% in September 2022 due to price increases observed in items of both Food and Non-Food categories which were 0.35% and 3.42%, respectively. Accordingly, within the Food category, increases were observed in prices of Fruits, Chicken and Wheat Flour. However, prices of Rice, Dhal and Sugar decreased during the month. Further, within the Non-Food category, increases were observed in prices of Housing, Water, Electricity, Gas and Other Fuels (Electricity bill, Water bill and Kerosene oil), Restaurant and Hotels, Health, Education (International School fees), Communication (Telephone charges), and Miscellaneous Goods and Services sub-categories during the month.
Meanwhile, annual average inflation rose to 33.4% in September 2022 from 28.0% in August 2022.
The core inflation (Y-o-Y), which reflects the underlying inflation in the economy increased to 50.2% in September 2022 from 46.6% in August 2022, while annual average core inflation increased to 24.1% in September 2022 from 20.3% in August 2022.