The Colombo Consumer’s Price Index (CCPI) for the month of February, 2003 was 3423.1. This shows a decrease of 38.4 index points or 1.1 percent from the January 2003 index number of 3461.5. This is a decrease of Rs. 77.70 in the Expenditure Value of "Market basket" when compared to January, 2003. It is worth while to note that CCPI for October, November, December 2002 and January 2003 has increased from 3150.8 to 3461.5 by 310.7 index points.

The Census and statitstics Department said that the decrease in the CCPI for February, 2003 is mainly due to decrease in prices of rice, limes, red onions, cowpea whole, coconuts, eggs, potatoes, most varieties if fresh fish and most varieties of vegetables. These price decreases in food items can be mainly attributed to more supply of consumer goods to the main markets in Colombo City.

However, prices of wheat flour, bread, Lactogen, milk tea, most varieties of dried fish and firewood have increased during this month.

Annual inflation rate on the basis of 12 months moving average increased to 10.2 percent in February, 2003 from 10.0 percent in January, 2003. The Colombo District Consumer Price Index (CDCPI), computed by the Central Bank of Sri Lanka, of the lowest 40 per cent of income earning households, covering a wider geographical area, i.e., Colombo District, decreased by 0.1 per cent in February. On a point to point basis, the index decreased to 4.0 per cent from 5.2 per cent in January. The annual average change of the index declined to 6.1 per cent compared to 6.5 per cent last month.