The Department of Census and Statistics has released the National Consumer Price Index (NCPI) for the month of August 2016. NCPI has been calculated as 113.3 for August 2016. This shows a decrease of 1.9 index points or a percentage of 1.6 compared to the previous month’s (July) index of 115.2. This monthly change is due to the decrease of expenditure value of food items by 1.8% and increase of expenditure value of non-food items by 0.1%.
The expenditure value of food commodity group has decreased by 1.8 percent in August 2016 compared to July 2016. The decrease in expenditure value of food commodity in August 2016 compared to July 2016 was due to the price decreases in vegetables, green chilies, sugar, coconut, sprats (dry), rice, dhal-masoor, red onions, potatoes, limes, big onions and wheat flour compared to the previous month (July). However, price increases were reported for banana, eggs, papaw, fresh fish, mangoes and chicken during this period.
The expenditure value of non food commodity group has increased by 0.1 percent in August 2016 compared to July 2016. This was due to the expenditure value increases in non food commodity groups of ‘Transport’, ‘Alcoholic Beverages Tobacco & Narcotics’, 'Miscellaneous Goods and Services', 'Furnishing, Household Equipment & Routine Household Maintenance', ‘Clothing and Footwear’ and ‘Restaurant and Hotels' compared to the previous month. The expenditure value increase in ‘Transport’ group was mainly due to increase in bus fare with effect from 01st of August 2016. However, decreases in expenditure value were reported for non food commodity groups of ‘Communication’, ‘Health’ and ‘Housing, Water, Electricity, Gas and Other Fuels’ compared to the previous month (July). The expenditure value decreases in ‘Communication’, ‘Health’ and 'Housing, Water, Electricity, Gas and Other Fuels’ groups was due to removal of recently introduced increased VAT rates. Further, very small decrease in expenditure value was reported for group of ‘Recreation and Culture' compared to the previous month. The expenditure value of ‘Education’ group remained unchanged during the month.
