Headline inflation for August increased to 3.4%

Colombo (News 1st): The Central Bank said headline inflation in August this year increased to 3.4%, which is an increase of 1.2% compared to July this year. Within the food category, the prices of banana, rice, and fresh fish recorded increases. Within the non-food category, the prices of the items in transport; alcoholic beverages, tobacco and narcotics, and clothing and footwear sub-categories increased during the month. Speaking exclusively to News 1st, a former officer of the Central Bank said the National Consumer Price Index (or NCPI) was formulated based on a substantial study of the economy. Several experts stress that the change in inflation rates is not reflected accurately through an index.