June food prices surge 14.3%, indicates Advocata’s ‘Bath Curry Index’

Pressures on Sri Lanka’s economy have sent food prices soaring in recent months, and June witnessed the highest increase according to Advocata’s Bath Curry Indicator (BCI), which showed changes in food prices recording a jump to 14.3 percent.

The BCI, established by Colombo based policy think-tank tracks the monthly changes in food prices. The latest analysis indicates that the month of June experienced an increase in prices compared to the month of May.

Three items in the food basket, green chillies, coconut, and beans, contributed to the significant increase in prices, the BCI highlighted. 

For the month of June, the price of green chillies increased by 64 percent, whereas the price of coconut by 33 percent, and beans by 17 percent.

Similarly, prices of rice (Samba), pumpkin, brinjal, red onions, and dhal recorded minor increase, contributing to the overall leap in the price of a plate of ‘rice and curry’.

Advocata stated that the increase shows that an average family comprising four members that spent Rs.1,136 on the basket of goods for a week in May, paid Rs.1, 299 for the same amount of goods in a week in June.

In comparison with June 2020 prices, the BCI saw a Year-on-Year (YoY) increase of 30 percent.

The BCI tracks the weekly retail prices of the most commonly consumed food ingredients in Colombo that might be used in a typical rice and curry meal. The prices are collected from the ‘Weekly Indicators’ published by the Central Bank.

Central Bank data showed that the Colombo Consumer Price Index (CCPI) increased to 5.2 percent in June 2021 from the previous month May. The increase was attributed to the monthly increase of prices of items in both Food and Non-food categories.

Food inflation increased to 11.3 percent from 9.9 percent in May, whereas non-food inflation increased to 2.5 percent from 2.2 percent in May.