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Inflation Rate Rises to 2.7% in April 2024, Food Inflation Declines

The overall rate of inflation, as measured by the National Consumer Price Index (NCPI), increased to 2.7% in April 2024, up from 2.5% in March 2024, according to the latest data released by the Department of Census and Statistics.

Meanwhile, food inflation decreased to 3.3% in April 2024, compared to 5.0% in March 2024.

The NCPI for all items in April 2024 was 208.2, representing a decrease of 1.8 index points, or 0.89%, from March 2024, when the index stood at 210.0. This reduction equates to a decrease in expenditure value of Rs. 946.09 in the “market basket.”

On a Year-over-Year basis, the overall rate of inflation as measured by the NCPI was 2.7% in April 2024, up from 2.5% in March 2024.

The Year-on-Year inflation of the food group decreased to 3.3% in April 2024 from 5.0% in March 2024, while the Year-on-Year inflation of the non-food group increased to 2.3% in April 2024 from 0.7% in March 2024.

In April 2024, the contribution of food commodities to inflation was 1.43%, compared to April 2023.

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