The newly introduced National Consumer Price Index (base year 2012/13) has recorded a YoY change of 3.0% in October compared to the 1.9% in September 2015, statistics released by Department of Census and Statistics (DCS) today showed.
The National Consumer Price Index (NCPI) will be released monthly commencing from November 2015 with a time lag of 21 days. The NCPI will have weights based on consumer spending in 2012/13, and will reflect new methods consistent with international best practices, the DCS said.
The NCPI for all items for the month of October 2015 was 109.2. An increase of 0.8 index point or a percentage of 0.74 was noted in October 2015 compared to September 2015 for which the index was 108.4. This increase represents an expenditure value of Rs. 257.20 in the “National Market Basket”.
Contribution to M on M Changes:
Contribution of Food and non alcoholic beverages items:
Significant increases in value change in index were reported for), Rice (0.20%), Limes (0.17%), Sugar (0.12%), Vegetables (0.10%), Coconuts (0.06%), Red Onions (0.04%), Big Onions (0.03%), ,Chilly powder (0.03%), Dried chilies (0.02%), Banana (0.03%), Potatoes (0.02%), Tamarind(0.02%), Coconut oil (0.01), Tomatoes (0.01%) and Capsicum(0.01%).
However, substantial price decreases were recorded for Fish & Sea foods (0.25%), Sprats (0.05%), Papaw (0.07%), Eggs (0.02%) and Dhal‐Mysoor (0.02%),
Contribution of non food items: + 0.11%
The price increases were reported for ‘Alcoholic Beverages, Tobacco & Narcotics’(0.08%), ‘Clothing and Footwear’ (0.01%), ‘Restaurants & Hotels'(0.01%) and ‘Education’ (0.01%). In terms of the amount of price increase in Education Group has been due to the increase in Tuition fees and the amount of price increase in Clothing and Footwear Group has been due to the price increase in Clothing category . While no significant changes were reported for other groups.
Year on Year (Y on Y) Inflation
Y on Y inflation of Food Group has increased from 1.1% in September 2015 to 2.3% in October 2015.
Contribution to Y on Y inflation:
On year to year basis, contribution of food commodities to inflation was 2.3 percent in October 2015 compared to September 2014 resulting increase in food sub index.
Contribution of Non food items was 1.95 percent. This was mainly due to the increase of ‘Alcoholic Beverages, Tobacco & Narcotics’(0.41%), ‘Clothing and Footwear’ (0.27%), ‘Housing, Water, Electricity, Gas, and Other Fuels’ (1.26%), ‘Furnishing, Household Equipment & Routine Household Maintenance'(0.18%), ‘Heath'(0.38%), ‘Education'(0.25%), ‘Recreation & Culture'(0.11%).’Education'(0.25%) and ‘Miscellaneous of goods and services’ (0.01%). Any way price decreases was reported for ‘Transport'(0.90%) and ‘Restaurants & Hotels’ group (0.01%). Even as there is no any value change in ‘Communication’ group on Y on Y basis.