According to the National Consumer Price Index, the inflation in the last month of April has decreased by 15.6 percent compared to the last month of March.
However, in the month of April, an increase in the price of textiles, footwear, health (private medical fees), entertainment and culture, exercise books and stationery, education (private tuition fees) has been recorded, according to the National Consumer Price Index for the month of April released by the Department of Population and Statistics.
The National Consumer Price Index is released monthly by the Department of Population and Statistics, and the Headline Inflation in April 2023 is 33.6%, the Director General of the Department of Population and Statistics has stated in this announcement.
The announcement issued by the Department of Population and Statistics is as follows.
The overall rate of inflation as measured by the NCPI on a Year-over-year basis was 33.6% in April 2023 and inflation calculated for the March 2023 was 49.2%. With respect to April 2022, the reported inflation for the month of April 2023 was mainly due to the higher price levels prevailed in both food and non-food groups. Anyway, on a monthly basis, the Year-on-Year inflation of the food group decreased to 27.1% in April 2023 from 42.3% in March 2023 and the Year-on-Year inflation of the non-food group decreased to 39.0% in April 2023 from 54.9% in March 2023.
On Year-on-year basis, contribution of food commodities to inflation was 12.33% in April 2023 compared to the month of April 2022.
Contribution of non-food items was 21.29%. This was mainly due to price increases in groups of items Alcoholic beverages, Tobacco and Narcotics’ (0.67%), ‘Clothing and Footwear (1.65%), Housing, Water, Electricity, Gas and Other fuels’ (6.98%), Furnishing, Household equipment and Routine household maintenance’ (1.76% ), Health (1.30%), Transport (3.54%), ‘Communication (0.47% ), ‘Recreation and Culture’ (0.90%), Education (0.76%), ‘Restaurant and Hotels (1.66%) and ‘Miscellaneous goods and services’ (1.61%) during the period.
The NCPI (Base 2021=100) for all items for the month of April 2023 is 202.7 and it records a decrease of 2.1 in index points compared to the March 2023. The NCPI for all items for the month of April 2023 is 202.7. A decrease of 2.1 index points or 1.03 percentage compared to March 2023 for which the index was 204.8. The month-on- month change was contributed by increases in food items of 0.12% and decreases in non-food items of 1.15% respectively.
In the food category, the increase in prices was reported for Chicken (0.13%), Fresh fish (0.11%), Eggs (0.05%). Limes (0.05%), Tea dust/leaves (0.04%), Coconuts (0.04%), Potatoes (0.03%), Fresh fruits (0.02%), Sugar (0.02%), Ginger (0.01%), Green gram (0.01%), Canned fish (0.01%), Green chilies (0.01%) and Infant milk powder (0.01%). However, decrease in price was reported for Rice (0.08%), Dried fish (0.04%), Chili powder (0.03% ), Milk powder (0.03%), Dried chilies (0.03%), Big onions (0.03%), Mysore dhal (0.03%), Bread (normal) (0.03%), Wheat flour (0.02%) and Turmeric powder (0.01%).
The decreases in index values of non-food groups in April 2023 compared to the previous month was mainly due to the price decreases in groups of items ‘Alcoholic Beverages, Tobacco and Narcotics’ (Beetle leaves) (0.01% ), ‘Housing, Water, Electricity, Gas and Other fuels’ (Materials for the Maintenance and LP Gas) (0.39%), Transport’ (Petrol, Diesel and Bus fare) (0.99% ), and Hotels’ (0.10%) and ‘Miscellaneous Goods and Services’ (Toilet soap) (0.02%). However, price increases in groups of items were reported for ‘Clothing and Footwear (0.05%), ‘Health (Fees to private medical practices) (0.05%), ‘Recreation and Culture” (Exercise books and stationeries) (0.12%) and ‘Education’ (Tuition fees) (0.15%). Further, very slight price increase was reported in the group of Furnishing, Household equipment and Routine household maintenance’. Meanwhile, the price index of ‘Communication’ group remained unchanged during the month.
Core Inflation, based on point changes in the National Consumer Price Index (base year: 2021=100), reflecting the exclusion of highly volatile food, energy and transport items, decreased from 44.2% in March 2023 to 31.8% in April 2023 was reported.
