Annual average inflation, which declined since June 2013, declined further to 3.5 percent in November 2014, from 3.8 percent in previous month.

The absolute CCPI computed by the Department of Census and Statistics marginally increased from 179.0 in October to 179.2 in November.

The general price level increased marginally by 0.12 percent in November 2014 compared to the prices in the previous month and of the total increase as food prices increased significantly due to less supply from main producing areas during the month.

Of the total increase in prices, food items contributed 0.27 percent mainly due to the increase in prices of Rice, Coconut, Coconut Oil, most varieties of Vegetables, Potatoes, Red Onions, Green Chilies, Sugar, and Limes.

On year to year basis, the highest contribution to the overall increase of around 145 percent came from food commodities which increased by 2 percent in November 2014. The combined effects of both domestically produced and imported food commodities contributed to the increase in the food sub Index.

Core inflation, which indicates the underlying inflation in the economy, remained at 3.6 percent in November 2014 on a Year-on-Year basis. Meanwhile, annual average core inflation increased to 3.4 percent in November from 3.3 percent recorded in the previous month.

(ST/KH)