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CCPI based Inflation decreased in August 2020

Headline inflation as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2013=100) decreased to 4.1 per cent in August 2020 from 4.2 per cent in July 2020. This was mainly driven by the statistical effect of the high base prevailed in August 2019. Food inflation (Y-o-Y) increased to 12.3 per cent in August 2020 from 10.9 per cent in July 2020, whereas Non-food inflation (Y-o-Y) decreased to 0.8 per cent in August 2020 from 1.5 per cent in July 2020.

The change in the CCPI measured on an annual average basis remained unchanged at 4.8 per cent in August 2020.

Land Valuation Indicator - First Half of 2020

Land Valuation Indicator (LVI) of Colombo District reached 141.6 during the 1st half of 2020, recording an annual increase of 7.1 per cent. Meanwhile, on semi-annual basis the LVI marginally increased by 2.0 per cent. Both annual and semi-annual percentage changes of LVI showed a declining trend over the recent periods.

All sub-indicators of LVI, namely Residential LVI, Commercial LVI and Industrial LVI contributed to the overall increase. Industrial LVI recorded the highest annual increase of 7.2 per cent, while both Residential LVI and Commercial LVI recorded 7.1 per cent increases.

Central Bank Extends the Deadline of Application for 4% Working Capital Loan Scheme until 30th September 2020

The Monetary Board decided to extend the deadline of 4% Working Capital Loan Scheme, at its meeting held on 19th August 2020. Accordingly, COVID-19 affected businesses and individuals can submit their loan applications under the Saubagya COVID-19 renaissance facility to respective licensed banks until 30th September 2020.

Meanwhile, the Central Bank of Sri Lanka surpassed the milestone of Rs. 100 billion loans on 18th August 2020, approving Rs.100,017 million worth of loans submitted by 36,489 applicants under the above facility. Out of approved loans, licensed banks have already disbursed more than Rs. 68.5 billion among 25,365 affected businesses and individuals island-wide as of 18th August 2020 (See Table 1 for details).

NCPI based Inflation decreased in July 2020

Headline inflation as measured by the yearon- year (Y-o-Y) change in the National Consumer Price Index (NCPI, 2013=100) decreased to 6.1 per cent in July 2020 from 6.3 per cent in June 2020. This was mainly driven by the statistical effect of the high base prevailed in July 2019. Meanwhile, Food inflation (Y-o-Y) decreased to 12.9 per cent in July 2020 from 13.6 per cent in June 2020, where as Non-food inflation (Y-o-Y) increased to 1.0 per cent in July 2020 from 0.8 per cent in June 2020.

The change in the NCPI measured on an annual average basis increased to 5.9 per cent in July 2020 from 5.6 per cent in June 2020.

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