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The Colombo Consumers' Price Index (CCPI) for the month of August, 2002 was 3175.6. This shows a decrease of 89.5 index points or 2.7 per cent from the July, 2002 index number of 3265.1. This is a decrease of Rs. 181.10 in the Expenditure Value of "Market basket" when compared to July, 2002.

The decrease in the CCPI for August, 2002 is mainly due to decrease in the prices of rice, pepper, garlic, cummin seed, red onions, most varieties of fresh fish and dried fish - salaya, eggs, potatoes and most varieties of vegetables.

These price decreases in food items can be mainly attributed to higher supply of consumer goods to the main markets in Colombo city and the influence of seasonality specially for vegetables of this period. However, prices of milk tea, dried chillies, limes, sour plantains, some varieties of dried fish and coconuts have increased during this month.

The annual inflation rate on the basis of 12 months moving average decreased to 11.0 per cent in August, 2002 from 11.1 per cent in July, 2002.

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