Inflation as measured by the Colombo Consumers’ Price Index (CCPI) (2002=100) computed by the Department of Census and Statistics decreased to 4.3% in July, from 4.8% in June 2010 on the point-to-point basis. This was the fifth consecutive month in which the Index registered a decline on the point-to- point basis. In July 2010 the CCPI decreased marginally by 0.04% over the previous month, with the Index decreasing in absolute terms from 217.7 to 217.6. However, annual average inflation increased marginally to 4.2% in July, from 3.9% in June 2010. The contribution to the monthly decrease in the Index originated mainly from price decreases in the sub categories of Food and non-alcoholic beverages (-0.2%) and Housing, water, electricity, gas and other fuels (-0.3%). Decrease in prices of some vegetables, fish and rice varieties as well as gas compared to the previous month contributed towards the downward movement in the above sub indices.
Meanwhile, price increases were experienced in the sub categories of: Miscellaneous goods and services (1.3%); Clothing and footwear (0.7%); Recreation and culture (0.7%); Furnishing, household equipment and routine household maintenance (0.5%); Health (0.5%); Education (0.3%) and Transport (0.2%); while prices in the Communication sub category remained unchanged during the month.
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