Press briefing of Cabinet Decision taken on 2011-06-22

Colombo Consumers? Price Index (Base 2006/07)

? the current Colombo Consumer Price Index is the country's official price index and is computed monthly. The pattern used in computing is based on Household Income and Expenditure Survey 2002 and the average household expenditure of a sample of 1300 household from the Colombo urban area. This Price Index required regular revision based on current Consumer Expenditure Surveys. The proposal made by H.E. the President to adopt a new and improved Price Index which reflects more realistically the changes in aggregate level of the Consumer Price, based on the Household Income and Expenditure Survey 2006/07, with effect from June 2011 and to update it every 03 to 05 years based on expenditure survey, was approved by the Cabinet.