The National Consumer Price Index (NCPI) recorded an increase in overall inflation to 2.7% in April 2024, up from 2.5% in March 2024, as per the latest figures from the Department of Census and Statistics.
However, the data also revealed a significant drop in food inflation, which fell to 3.3% in April from 5.0% the previous month.
The NCPI for all items in April 2024 stood at 208.2, a decrease of 1.8 index points or 0.89% from March 2024's index of 210.0. This reduction translates to a decrease in expenditure value of Rs. 946.09 in the market basket.
Year-over-Year (YoY) inflation rates also showed a mixed picture. Overall YoY inflation was 2.7% in April 2024, slightly higher than the 2.5% recorded in March 2024. The food group's YoY inflation decreased sharply to 3.3% in April from 5.0% in March, while the non-food group's YoY inflation rose significantly to 2.3% in April from 0.7% in March.
Food commodities contributed 1.43% to the overall inflation in April 2024 compared to the same month
