Connect with us

Business

CCPI based inflation increases to 6.0 per cent in August 2021

Published

on

Headline inflation, as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2013=100)1, increased to 6.0 per cent in August 2021 from 5.7 per cent in July 2021. This was driven by monthly increases of prices of items in both Food and Non-food categories. Subsequently, Food inflation (Y-o-Y) increased to 11.5 per cent in August 2021 from 11.0 per cent in July 2021, while Non-food inflation (Y-o-Y) increased to 3.5 per cent in August 2021 from 3.2 per cent in July 2021.

The CCPI, measured on an annual average basis, increased marginally to 4.3 per cent in August 2021 from 4.2 per cent in July 2021.

Monthly change of CCPI recorded at 0.28 per cent in August 2021 due to price increases observed in items of both Food and Non-food categories. Moreover, monthly changes of Food and Non-food categories recorded at 0.21 per cent and 0.06 per cent, respectively. Accordingly, within the Food category, prices of fresh fish, fresh fruits, sugar and chicken increased, whereas prices of rice and coconut recorded decreases.

prices of items in the Non-Food category recorded increases mainly due to price increases observed in the Health (Payments to private hospitals/ nursing homes) and Furnishing Household Equipment and Routine Household Maintenance sub-categories during the month.

The core inflation (Y-o-Y), which reflects the underlying inflation in the economy, increased to 4.1 per cent in August 2021 from 3.7 per cent in July 2021. Moreover, annual average core inflation increased marginally to 3.2 per cent in August 2021 from 3.1 per cent in July 2021.



Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Ceylinco Life agent among three global finalists for award

Published

on

Ceylinco Life’s Ambalantota branch agent AIP Manjula

Ceylinco Life’s Ambalantota branch agent AIP Manjula has been named one of three global finalists for the prestigious Insurance Agent of the Year award at the 11th Asia Trusted Life Agents & Advisers Awards (ATLAA) 2026.

The recognition places a Sri Lankan insurance professional among the finalists in a regional field spanning South Asia, Southeast Asia, East Asia and the wider Asia-Pacific region.

Ceylinco Life said the achievement reflected the calibre and customer-focused approach of its agency force, while recognising Manjula’s professionalism and commitment to policyholders.

The award evaluates insurance agents on criteria extending beyond sales performance, including ethical conduct, client service, policy persistency, digital adoption, innovative practices and contributions to the insurance industry and community.

The awards are organised by Asia Advisers Network and Asia Insurance Review, with LIMRA as co-organiser. An independent judging and balloting process is monitored by KPMG as the official scrutineer. The judging panel comprises senior insurance executives, association presidents and industry experts from across the Asia-Pacific region.

Continue Reading

Business

CEAT Kelani retains AA+ rating for sixth year

Published

on

CEAT Kelani Holdings (CKH) has retained its National Long-Term Rating of ‘AA+(lka)’ with a Stable Outlook from Fitch Ratings for the sixth consecutive year, reflecting the company’s financial resilience and leading position in Sri Lanka’s pneumatic tyre market.

The ‘AA+(lka)’ rating, the second-highest on Fitch’s national scale, indicates a very strong capacity to meet financial commitments.

Fitch said CKH’s established market leadership and resilient financial profile remained key strengths, while noting its exposure to price-sensitive, cyclical and highly competitive markets.

The Stable Outlook reflects expectations that the company will maintain its market position despite rising input costs and increasing competition from imported tyres, while preserving adequate credit metrics during periods of weaker earnings and higher investment.

Fitch expects CKH’s established brand, extensive dealer network and adaptive pricing strategies to support its market position. Planned production facility upgrades are also expected to improve product quality, particularly in the radial tyre segment.

The rating agency expects near-term pressure on margins from higher raw material and energy costs but said the company’s low leverage and sound liquidity would provide a cushion.

CKH Chairman Chanaka De Silva said the rating reinforced the company’s focus on disciplined financial management, operational adaptability and long-term investment.

Continue Reading

Business

Commercial Bank leads nationwide aquatic clean-up drive

Published

on

Sanath Manatunge, Managing Director/CEO of Commercial Bank and some of the Bank’s staff participating in the coastal cleanup programme

Commercial Bank of Ceylon mobilised employees, customers, volunteers and community members for a nationwide coastal and aquatic clean-up campaign across 20 locations on September 19 to mark International Coastal Cleanup Day 2026.

Conducted under the bank’s sustainability platform, themed ‘Forward Together for a Cleaner Future’, the initiative covered 16 coastal locations and four inland waterways, bringing together stakeholders for a coordinated environmental conservation effort.

The flagship programme was held at Mount Lavinia Beach, with additional activities at Wellawatte and Galle Face beaches. Similar initiatives were conducted by the bank’s regional offices at locations including Kalutara, Negombo, Trincomalee, Batticaloa, Puttalam, Jaffna, Galle, Dondra, Tangalle and along the Mahaweli River.

Employees, management, Future Force volunteers, customers and their families participated alongside the Marine Environment Protection Authority (MEPA), United Nations Global Compact Network Sri Lanka, government and local authorities, environmental organisations and community members.

The bank said the initiative reflected its commitment to water stewardship after adopting Sustainable Development Goal 6 — Clean Water and Sanitation — as a priority goal in 2025.

Continue Reading

Trending