Sri Lanka’s inflation hits record high 45.3% in May : Get the latest breaking news and top stories from Sri Lanka, the latest political news, sports news, weather updates, exam results, business news

local world and politics science technology sport

Sri Lanka’s inflation hits record high 45.3% in May 2022-06-21 22:00:07

The overall rate of inflation as measured by the National Consumer Price Index on Year-on-Year basis is 45.3% in May 2022, according to Sri Lanka’s Department of Census and Statistics.

The Department of Census and Statistics (DCS) on Tuesday released the National Consumer Price Index (NCPI) and the inflation rate for the month of May 2022.

The NCPI for all items for the month of May 2022 is 208.7 and it records an increase of 18.4 in index points compared to the April 2022.

The overall rate of inflation as measured by NCPI on Year-on-Year basis has increased to 45.3% in May 2022 from 33.8% in April 2022. The moving average inflation for the month of May 2022 is 16.3%.

Core Inflation increased to 37.7% in May 2022 from 27.9% in April 2022. The general price level has increased by 108.7% compared to the base year (2013).

Year-on-Year Food inflation is recorded as 58.0% while the Year-on-Year Non-Food inflation is 34.2%.

The NCPI is a macroeconomic indicator compiled to measure inflation which is defined as a sustained increase in the general level of prices for goods and services and it is measured as an annual percentage increase by NCPI.