Inflation in Sri Lanka’s capital at 3.4-pct in November

ECONOMYNEXT – Sri Lanka’s inflation was measured at 3.4 percent in the 12-months to November 2016 with prices rising 0.6 percent during the month, the same as October, data from the state statistics office showed.

The 12-month inflation slowed from 4.2 percent recorded in October, partly due to a base effect.

The central bank generated 1.2 percent inflation In November 2015, compared to only 6.0 percent in November 2016.

W Siriwardene, Central Bank’s Assistant Governor said the agency was on target to keep inflation in low single digits this year.

The food price index was unchanged during the month, but non-foods rose 1.2 percent.

Sri Lanka increased value added taxes from 11 to 15 percent for most goods from November but prices of most goods rose in May.

In recent times the US dollar had been rising, with tighter US policy, keeping global inflation down, despite a fall in the rupee.

 

 

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