Fact Check
The MP in his statement claims that in April 2022 food inflation is 46.6% and in the month of May 2022 it has increased to 57%, which is an increase of more than 10% in just one month alone.
To check this claim, FactCheck.lk consulted the Colombo Consumers’ Price Index (CCPI) Food and Non-Food Groups Inflation statistics published by the Department of Census and Statistics.
The CCPI year-on-year (YoY) inflation is calculated by the percentage difference in the base index between the same month in two consecutive years. However, the month-on-month (MoM) inflation is calculated by the percentage difference in the base index between the two consecutive months in the same year.
The CCPI YoY inflation recorded for the month of April 2022 is 46.6% and for May 2022 is 57.4%. These figures are in line with the MP’s claim. However, the MoM inflation increase from April to May 2022 is recorded at 9.7%. The MP could have been referring to the difference between the year-on-year inflation numbers, which is 10.8% (57.4% – 46.6%) when he cited an increase of more than 10% from April to May 2022.
The MP is correct on the YoY inflation figures but not correct in the way he seems to have imputed the MoM inflation; even though the actual MoM inflation is very close to his claim.
Therefore, we classify the MP’s statement as Partly True.
NB: At the time of publishing this fact check YoY inflation increased to 60.8% in July 2022 from 54.6% in June 2022, while YoY food inflation for the month of July was recorded at 90.9%.
*FactCheck.lk’s verdict is based on the most recent information that is publicly accessible. As with every fact check, if new information becomes available, FactCheck.lk will revisit the assessment.
Additional Note
How is CCPI calculated? The CCPI identifies the average changes in the prices of goods and services purchased by households in urban areas of the Colombo district. Price of items in the CCPI are collected from 14 centres located in Colombo, namely, Pettah, Maradana, Wellwatte, Dematagoda, Grandpass, Borella, Kirulapana, Dehiwala, Kotte, Nugegoda, Kolonnawa, Rathmalana and Narahenpita as dedicated economic centres. The consumer basket includes 392 items which represents the typical urban household consumption expenditure.
Sources
Colombo Consumers’ Price Index (CCPI) Food and Non-Food Groups Inflation Colombo Consumers’ Price Index (CCPI (Base: 2013=100), Department of Census and Statistics Sri Lanka at; http://www.statistics.gov.lk/InflationAndPrices/StaticalInformation/MonthlyCCPI/Inflation-FoodAndNonFoodGroups [ Last accessed 04 July 2022]
Colombo Consumers’ Price Index (CCPI) (Base: 2013=100) June 2022, Department of Census and Statistics Sri Lanka at; http://www.statistics.gov.lk/InflationAndPrices/StaticalInformation/MonthlyCCPI/CCPI_20220630E [ Last accessed 04 July 2022]