Sri Lanka's NCPI-based inflation hit a record high of 21.5% in March

Sri Lanka’s overall rate of inflation as measured by the National Consumer Price Index (NCPI) on the Year-on-Year (Y-o-Y) basis has been recorded as 21.5% in March 2022, according to the Department of Census and Statistics.

With respect to March 2021, the reported inflation for the month of March 2022 was mainly due to the higher price levels prevailed in both food and non-food groups, the department said further. Comparing the Month-on-Month (M-o-M) changes, NCPI in March 2022 has increased to 172.7 from 167.8 reported in February 2022.

The month-on-month change was contributed by increases of index values of food items by 1.22% and non-food items by 1.70%, respectively. The increases in index values of non-food groups in March 2022 compared to the previous month was mainly due to the price increases in groups of items ‘alcoholic beverages, tobacco and narcotics’ (arrack, betel leaves), ‘clothing and footwear’, ‘housing, water, electricity, gas and other fuels’ (LP gas),’ furnishing, household equipment and routine household maintenance’, ‘health’ (payments to private hospitals/nursing homes room changes, purchase of medical/pharmacy products), ‘transport’(petrol & diesel, bus fare), ‘recreation and culture’, ‘restaurants and hotels’ and ‘miscellaneous goods and services’.