The Department of Census and Statistics (DCS) has released its latest report, disclosing that the National Consumer Price Index (NCPI) recorded a year-on-year inflation rate of 2.8% for November 2023. This figure reflects a notable increase from the 1.0% inflation registered in October 2023.
Breaking down the components, the Food-Inflation for November witnessed a shift from -5.2% in October to -2.2%, while non-food inflation rose to 7.1% from the 6.3% reported in the previous month.
The overall NCPI for November 2023 stands at 206.0, marking a 2.4 index point or 1.19% increase compared to October 2023, where the index was 203.6. This uptick translates to a Rs. 1231.49 rise in the expenditure value of the "market basket."
Specifically, increases in index values were noted for various food items, including Vegetables (0.62%), Rice (0.14%), Sugar (0.09%), and Coconuts (0.06%). Conversely, decreases were observed in Fresh fish (0.19%), Chicken (0.08%), and Dried fish (0.07%).
Non-food groups also saw fluctuations, with price increases in 'Housing, Water, Electricity, Gas and Other Fuels' (Materials for Maintenance and Electricity bill) (0.53%) and 'Restaurants and Hotels' (0.02%). Contrarily, there were decreases in 'Transport (Petrol)' (0.08%), 'Alcoholic Beverages, Tobacco and Narcotics' (Beetle leaves) (0.02%), and 'Health' (Spectacles) (0.02%).
Minor price decreases were reported in groups like 'Clothing and Footwear,' 'Furnishing, Household Equipment and Routine Household Maintenance,' 'Recreation and Culture,' and 'Miscellaneous Goods and Services.' The price indices of 'Communication' and 'Education' groups remained unchanged during the month, according to the report.
