Sri Lanka 12-month inflation down in January 2021, prices up in month
ECONOMYNEXT – Sri Lanka’s 12-month consumer inflation rose 3.0 percent in January 2021 from a year earlier in the capital Colombo, slowing from 4.2 percent a month earlier, but prices rose 0.5 percent during the month, data from the state debt office showed.
The Colombo Consumer Price Index grew by 0.7 points to 138.7 points in January on top of a 0.7 percent rise in December and a 0.4 percent rise in November.
Prices usually jump in December-January and May-June in Sri Lanka.
Food and non-alcoholic beverages index was up 0.9 percent, after rising 1.4 percent in December.
Sri Lanka has been running modern monetary theory, printing unprecedented volume of money, with most of the liquidity created flowing out through debt payments and a reserve rundown.
(Colombo/Jan30/2021 – Corrected point to point inflation)