The latest reports released by the Central Bank of Sri Lanka (CBSL) show that CCPI-based headline inflation has increased to 39.1% in May 2022 from 29.8% in April 2022 on a year-on-year basis.
Food inflation increased to 57.4% in May 2022 from 46.4% in April 2022, while non-food related inflation increased to 30.6% in May 2022 from 22.0% in April 2022.
CCPI changed 8.34% in May 2022 owing to price increases in Non-Food and Food categories, which were recorded at 4.87% and 3.47%, respectively. Rate hikes in transport, housing, water, electricity, gas, and other categories brought about price increases in the non-food category. Price increases in the food category were observed with regards to price increases of vegetables, fresh fish, rice, bread, dried fish, and dhal during the month.
Meanwhile, annual average inflation rose to 14.2% in May 2022 from 11.3% in April 2022.
The core inflation (Y-o-Y), which reflects the underlying inflation in the economy, increased to 28.4% in May 2022 from 22.0% in April 2022, while annual average core inflation increased to 10.2% in May 2022 from 8.1% in April 2022.
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