Inflation in December increased to 12%- CBSL

COLOMBO (News 1st); The Central Bank of Sri Lanka (CBSL) says that headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index, increased to 12.1% in December 2021 from 9.9% in November 2021.

Meanwhile, on an annual average basis, the CCPI increased to 6.0% in December 2021 from 5.3% in November 2021. CBSL stated that an in-depth analysis of the key drivers of current inflation suggests that a large component of inflation is driven by supply side factors, of which a detailed explanation will be published by the Central Bank.

Inflation was driven by monthly increases of prices of items in both Food and Non-food categories.

Subsequently, Food inflation (Y-o-Y) increased to 22.1% in December 2021 from 17.5% in November 2021, while Non-food inflation (Y-o-Y) increased to 7.5% in December 2021 from 6.4% in November 2021.