Inflation drops to 5.5% in October 2020

Inflation drops to 5.5% in October 2020

Headline inflation as measured by the year-on-year (Y-o-Y) change in the National Consumer Price Index (NCPI, 2013=100)1 decreased to 5.5% in October 2020 from 6.4% in September 2020. This was due to the statistical effect of the high base prevailed in October 2019.

Meanwhile, Food inflation (Y-o-Y) decreased to 10.6% in October 2020 from 12.7% in September 2020, whereas Non-food inflation (Y-o-Y) increased marginally to 1.5% in October 2020 from 1.4 per cent in September 2020.

The change in the NCPI measured on an annual average basis remained unchanged at 6.2% in October 2020.

Monthly change of NCPI recorded at 0.1% in October 2020. This was mainly due to increases observed in prices of items in Food category. Accordingly, within the Food category, increases were observed mainly in the prices of big onion and rice during October 2020. However, prices of fresh fruits and fresh fish recorded declines during the month.

Further, core inflation (Y-o-Y) decreased to 4.5% in October 2020 from 4.8% in September 2020, while annual average core inflation decreased marginally to 4.2% in October 2020 from 4.3% in September 2020.


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