The overall inflation rate, as measured by the National Consumer Price Index (NCPI), fell to -0.2% in September 2024, down from 1.1% in August 2024, according to the latest data from the Department of Census and Statistics.
Food inflation also saw a significant drop, decreasing to 0.5% in September from 2.3% in August.
The NCPI for all items in September 2024 stood at 203.1, marking a decrease of 1.0 index points compared to August 2024’s figure of 204.1. This drop reflects a reduction in the expenditure value of the “market basket” by Rs. 500.25.
On a Year-on-Year basis, overall inflation was recorded at -0.2% in September 2024, compared to 1.1% in August. Food group inflation on a Year-on-Year basis also decreased to 0.5% in September from 2.3% in August. Similarly, non-food group inflation dropped to -0.7% in September from 0.2% in August.
The contribution of food commodities to inflation for September 2024 was 0.22%, compared to the same month in 2023, the report stated.
