Headline inflation, as measured by the year-on-year change in the Colombo Consumer Price Index (CCPI, 2021=100), decreased to 50.6 percent in February from 51.7 percent in January, the Census and Statistics Department announced yesterday.
“The year-on-year inflation of Food Group decreased to 54.4 percent in February from 60 percent in January, and the year-on-year inflation of Non Food Group increased to 48.8 percent in February from 47.9 percent in January,’’ the Department said.
Following internationally accepted guidelines, it has been arranged to revise the base year from 2013=100 to 2021=100 in order to accommodate the changing expenditure patterns and incorporate changes of goods and services available in the market.
The CCPI is compiled to indicate average changes in the prices of goods and services purchased by households in urban areas of Colombo district.
The price collection of the index (Base 2021=100) has covered 10 price collection centers in Peliyagoda, Maradana, Wellawatta, Dematagoda Grandpass, Kirulapone, Nugegoda, Ratmalana, and two Dedicated Economic Centres namely Narahenpita and Ratmalana.
Prices are collected weekly from the outlets located within each of the above market areas including Sathosa and a supermarket. The consumer basket includes 426 items, which represent the typical urban household consumption expenditure.
The CPI weights are derived from the Household Income and Expenditure Survey (HIES) 2019.
by Daily News Sri Lanka
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