Sri Lankan inflation in Feb hits record high at 17.5%, highest since 2015

Sri Lanka's Department of Census and Statistics announced that the overall rate of inflation for February 2022 on year-on-year basis stood at 17.5 per cent

Sri Lanka's Department of Census and Statistics announced that the overall rate of inflation for February 2022, as measured by National Consumer Price Index (NCPI) on year-on-year basis, stood at 17.5 per cent, the highest since 2015.

The NCPI has weights based on consumer spending in the 2012/13 Household Income and Expenditure Survey and reflects new methods consistent with the best international practices, reports Xinhua news agency.

Inflation calculated for January 2022 was 16.8 per cent.

The higher inflation for the month of February 2022 was mainly due to the higher price levels in both food and non-food categories.

The year-on-year inflation of the food category increased to 24.7 per cent in February 2022 from 24.4 per cent in January 2022, and that of the non-food group rose to 11 per cent in February 2022 from 10.2 per cent in the previous month.

 

--IANS

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