Headline inflation, as measured by the year-on-year (Y-o-Y) change in the National Consumer Price Index (NCPI, 2013=100) increased to 58.9% in June 2022 from 45.3% in May 2022. This increase in Y-o-Y inflation was driven by the monthly increases of both Food and Non-Food categories. Accordingly, Food inflation (Y-o-Y) increased to 75.8% in June 2022 from 58.0% in May 2022, while Non-Food inflation (Y-o-Y) increased to 43.6% in June 2022 from 34.2% in May 2022.

Monthly change of NCPI recorded at 10.91% in June 2022 due to price increases observed in items of both Food and Non-Food categories which were 7.25% and 3.66%, respectively. Accordingly, within the Food category, prices of rice, vegetables, fresh fish, sugar, milk powder and dried fish recorded increases during the month. Further, within the Non-Food category, increases were observed in prices of Transport (Petrol, diesel and bus fare), Furnishing, Household Equipment and Routine Household Maintenance, and Restaurants and Hotels sub-categories during the month.

Purchasing Managers' Indices for both Manufacturing and Services activities decreased in June 2022.

Manufacturing PMI declined in June 2022, indicating a setback in manufacturing activities on a month-on-month basis.

Services PMI dropped further to an index value of 40.3 in June 2022 indicating a contraction in services activities for the third consecutive month.