Sri Lanka country-wide inflation accelerates to 4.8-pct in November

ECONOMYNEXT – Sri Lanka’s country-wide inflation rose 4.8 percent in the 12-months to November accelerating from 3.0 percent in October, the state statistics office said.

The newly constructed National Consumer Price Index measures prices around the island, unlike the Colombo Consumer Price Index, which measures prices in the capital.

Prices rose 2.6 during the month, the statistics office said. Food prices rose 2.1 percent and non-foods rose 0.5 percent during the month.

Sri Lanka’s central bank has been printing money heavily to enforce a rate cut in April 2014 and has busted the currency 8.7 percent against the US dollar so far this year.

It has given a series of excuses why monetary policy should not be tightened, despite raging private and state credit, but has started some tightening measures this month.

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