INSUBCONTINENT EXCLUSIVE:
The overall rate of inflation as measured by the Colombo Consumer Price Index (CCPI) on year-on-year basis has recorded a significant
decrease in the month of March 2024, according to the most recent figures published by the Department of Census and Statistics (DCS).The
CCPI-based inflation was calculated as 5.9% for the month of February.According to the DCS report, the year-on-year inflation of Food Group
was recorded at 3.8% in March, showing a minor increase from the 3.8% recorded in February, while the inflation of Non-Food Group decreased
to -0.5% in March from 7.0% in February.For March 2024, the contribution of inflation by food commodities was 1.19% while the contribution
of Non-Food items was -0.32%
The DCS attributed this to the price decreases in groups of housing, water, electricity, gas and other fuels, transport, health, clothing
and footwear, furnishing household equipment and routine maintenance, as well as the price increases in groups of alcoholic beverages,
tobacco and narcotics, education, restaurants and hotels, miscellaneous goods and services, recreation and culture and communication,
