Inflation in March 2016

Inflation, as measured by the change in the National Consumer Price Index (NCPI) (2013=100), compiled by the Department of Census and Statistics, increased to 2.2 per cent in March 2016 from 1.7 per cent in February 2016, on year-on-year basis. The main contributor towards the increase in year-on-year inflation was the Non-food category. Prices in Miscellaneous Goods and Services (Car insurance); Alcoholic Beverages and Tobacco; Transport; and Clothing and Footwear sub categories were the main contributors towards the year-on-year increase.

The change in the NCPI measured on an annual average basis decreased to 2.4 per cent in March 2016 from 2.6 per cent recorded in February 2016.

When the monthly change in the NCPI is considered, the NCPI decreased by 0.7 per cent from February 2016 to March 2016. This monthly decline was mainly due to the decrease in prices of the items in the Food and Non Alcoholic Beverages category. Prices of vegetables, rice, green chilies, coconuts and red onions decreased during the month. Prices in Alcoholic Beverages and Tobacco sub group increased during the month. All the sub groups in the Non-Food Category remained almost unchanged during the month.

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Published Date: 

Friday, April 22, 2016