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Monetary Policy Review - August 2016

Both headline and core inflation, measured on a year-on-year basis, edged down in July 2016. The normalisation observed in domestic supply conditions as well as the suspension of the revisions made to certain taxes moderated consumer price inflation. However, the underlying upward trend in inflation, as reflected in annual average price changes, appears to have continued thus far during the year.

Inflation in July 2016

Inflation, as measured by the change in the National Consumer Price Index (NCPI) (2013=100), which is compiled by the Department of Census and Statistics, decreased to 5.8 per cent in July 2016 from 6.4 per cent in June 2016, on year-on-year basis. Both Food and Non-food categories contributed towards the year-on-year inflation in July 2016.

The change in the NCPI measured on an annual average basis increased to 3.4 per cent in July 2016 from 3.1 per cent in June 2016.

SL Purchasing Managers’ Index Survey - July 2016

The Manufacturing PMI decreased to 50.6 in July indicating a neutral performance in comparison to 55.1 in June 2016. The decline in July in comparison to June was mainly due to the decrease in New Orders and Production Indices. The month-on-month decline of the PMI and the sub-indices follows the significant increase observed in the month of June compared to May 2016. All sub-indices of PMI, apart from Employment and Stock of Purchases Indices, declined compared to the previous month. Overall data points to an expansion on the strength of Production and Stock of Purchases Indices while all the other sub-indices remained below the neutral 50.0 threshold. The expectations for activities indicated an improvement for the next three months.

Economic and Social Statistics of Sri Lanka - 2016

The 'Economic and Social Statistics of Sri Lanka – 2016' an annual publication of the Central Bank of Sri Lanka, is now available for public access. The publication contains economic and social indicators of Sri Lanka in the areas of Gross Domestic Product (GDP), agriculture, industry, external trade and finance, government finance, banking and financial institutions, money and capital markets, prices and wages, labour force, transportation, education, health, telecommunication services, population, climate and selected information on economic and social indicators of other countries. In addition, information on living conditions, poverty and household characteristics in Sri Lanka from Household Income and Expenditure Survey (HIES) conducted by the Department of Census and Statistics also available in the publication. Further, it includes disaggregated information at the provincial level on key economic variables.

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