Srilanka, Aug. 3 -- Sri Lanka's headline inflation picked up pace in July, with the Colombo Consumer Price Index (CCPI) rising to 7.3% year-on-year, up from 6.8% in June, according to Central Bank data released this week.
The uptick was driven largely by a jump in housing rents, which pushed non-food inflation contributions higher for the month, along with a base effect on food prices that saw food inflation nearly double to 6.3% from 3.6% in June.
Interestingly, non-food inflation on a yearly basis actually eased slightly, slipping to 7.8% from 8.4% the month before. But it was the monthly movement that told the real story: the CCPI rose 0.24% in July, with housing costs alone responsible for the bulk of that increase.
Core inflation, w...