Business
NCPI based headline inflation recorded at 70.2% on year-on-year basis in August 2022
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the National Consumer Price Index (NCPI, 2013=100)1 increased to 70.2% in August 2022 from 66.7% in July 2022. This increase in Y-o-Y inflation was mainly driven by the monthly increases of both Food and Non-Food categories. Accordingly, Food inflation (Y-o-Y) increased to 84.6% in August 2022 from 82.5% in July 2022, while Non-Food inflation (Y-o-Y) increased to 57.1% in August 2022 from 52.4% in July 2022.
Monthly change of NCPI recorded at 2.45% in August 2022 due to price increases observed in items of both Food and Non-Food categories which were 0.91% and 1.53%, respectively. Accordingly, within the Food category, increases were observed in prices of fresh fish, eggs, biscuits and fruits. However, prices of dhal, rice and sugar decreased during the month. Further, within the Non-Food category, increases were observed in prices of Housing, Water, Electricity, Gas and Other Fuels (Electricity, Materials for maintenance and Kerosene), Furnishing, Household Equipment and Routine Household Maintenance (Washing soap) and Miscellaneous Goods and Services sub-categories during the month. It is noteworthy that Transport (Petrol, Diesel and Bus fare) sub-category recorded a decline during the month.
Meanwhile, annual average inflation rose to 31.3% in August 2022 from 25.9% in July 2022.The core inflation (Y-o-Y), which reflects the underlying inflation in the economy increased to 60.5% in August 2022 from 57.3% in July 2022, while annual average core inflation increased to 26.0% in August 2022 from 21.3% in July 2022.
SriLankan Airlines set dreams in motion for 24 young students selected to represent Sri Lanka at the 2026 International Mathematics and Science Olympiad, held in Indonesia from 2 to 7 October 2026, helping make their journey to Indonesia and back an extra special one.
The students were selected through a four-stage national selection process covering school, zonal, provincial and national levels, with the highest-performing students progressing at each stage.
As a special initiative for Children’s Day, the Ministry of Education sponsored the air travel of all 24 students for the first time. Returning to Sri Lanka with an impressive haul of three Silver Medals and 10 Bronze Medals, the young contestants competed alongside students from 23 countries.
SriLankan Airlines was privileged to be part of their special journey, helping make their experience even more memorable as they represented Sri Lanka on the international stage.
Leaders across LAUGFS Supermarkets, LAUGFS Lubricants and LAUGFS Petroleum recognised for excellence in leadership and management.
LAUGFS Group marked a significant achievement at the CPM Management Leadership Excellence Awards 2026, with several of its leaders receiving prestigious accolades in recognition of their excellence in management, leadership and strategic decision-making. Organised by the Institute of Chartered Professional Managers of Sri Lanka (CPM Sri Lanka), the awards recognise outstanding management and leadership excellence across the business sector.
Representing LAUGFS Supermarkets in the Supermarkets, Malls and Shopping Complexes sector, Niroshan De Silva, Sector Managing Director/CEO – Retail, received the Gold Award for C-Suite Leadership, recognising his leadership in driving business growth, operational performance and strategic development across the Group’s retail operations. Sujeewa Vidanapathirana, Chief Operating Officer – LAUGFS Supermarkets, secured two Gold Awards for Executive Decision Maker Leadership, receiving one Gold Award in the Supermarkets, Malls and Shopping Complexes sector and another Gold Award for exhibiting exemplary management skills. In addition, he received an Overall Bronze Award in the Executive Decision Maker Leadership category, recognising his strong leadership, effective decision-making and contribution to business and operational excellence.
By Hiran H. Senewiratne
The CSE yesterday opened on a positive note but later went into decline due to uncertainties in the geopolitical arena, especially oil price rises triggered by lingering tensions in West Asia.
The All Share Price Index went down by 82.57 points, while the S and P SL20 rose by 30.85 points. Turnover stood at Rs 1 billion with four crossings.
Those crossings were: LMF one million shares crossed to the tune of Rs 82 million; its shares traded at Rs 82, Muller and Phipps 28.3 million shares crossed for Rs 62.3 million; its shares traded at Rs 2.20, JKH 2.6 million shares crossed to the tune of Rs 47 million; its shares sold at Rs 18.30 and Asiri Surgical Hospitals 2 million shares crossed for Rs 21 million; its shares traded at Rs 10.30.
In the retail market companies that mainly contributed to the turnover were: HNB Finance Rs 77 million (11 million shares traded), Commercial Credit and Finance Rs 68 million (722,000 ,shares traded), LMF Rs 60 million (724,000 shares traded), ACL Cables Rs 41 million (452,000 ,shares traded), Central Finance Rs 35 million (173,000 shares traded) and Digital Mobility Solutions Rs 32 million (208,000 shares traded). During the day 70 million share volumes changed hands in 11905 transactions.
The FMCG sector performed well, especially LMF, while financial sector counters, especially HNB Finance, impressed. JKH too performed well.
Meanwhile, E.B. Creasy & Company announced that it has executed a corporate guarantee of Rs 50 million with effect from September 30, 2026, on behalf of its subsidiary, E. B. Creasy Logistics Ltd, guaranteeing banking facilities obtained by the company. The company stated that the delay in making the disclosure was due to a delay in receiving official notification from the bank on the execution of the guarantee.
Yesterday the US dollar buying rate was Rs 326.43, while the selling price was Rs 335.44.
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