Sri Lanka's national consumer price index surges 66.7% year on year in July

Sri Lanka's National Consumer Price Index (NCPI) climbed 66.7% year on year in July after a 58.9% rise in June, the statistics department said on Monday. It acts as a lead indicator for broader national prices and shows how inflation is evolving in Colombo, Sri Lanka's biggest city.

Sri Lanka's National Consumer Price Index (NCPI) climbed 66.7% year on year in July after a 58.9% rise in June, the statistics department said on Monday. The NCPI captures broader retail price inflation across the island nation and is released with a lag of 21 days every month.

The Colombo Consumer Price Index (CCPI), released at the end of each month, is more closely monitored. It acts as a lead indicator for broader national prices and shows how inflation is evolving in Colombo, Sri Lanka's biggest city. Inflation is expected to rise in August after Sri Lanka revised electricity tariffs. The central bank said this month the pace of inflation was reducing but it could still hit 60%-65% and was likely to peak in September.