Sri lanka News – Food inflation in Sri Lanka’s commercial capital Colombo had declined in October compared to June when the island was at the peak of dollar shortage and social crisis, an inflation indicator showed.
Bath Curry Indicator (BCI) of Advocata Institue tracks the prices of several food items consumed in Colombo.
“Compared to June 2022, prices of the BCI basket of food have been declining. The average price of green chillies, tomatoes, dhal and beans fell over the past four months, contributing to the reduction of the overall BCI,” Adovcata said in its report.
“Supermarket prices tracked by the BCI also show a similar trend.”
However year on year, BCI shows that food prices have risen 53% in October 2022.
Meanwhile, Official year-on-year food inflation stood at 85.6% in October 2022 based on the Colombo Consumer Price Index.
“Although food price inflation is declining, it remains at historically high levels. A continuing decline in international food commodity prices and improvements in domestic agriculture supply would be required to bring down inflation to previous levels,” Roshan Perera, a senior visiting fellow at the Advocata Institute said.
“Access to fertilizer at a reasonable cost and at the right time would be vital to ensure adequate domestic agriculture supply.” She went on to say.
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