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Sri Lanka inflation accelerates to 3.1-pct in November

ECONOMYNEXT – Sri Lanka’s inflation accelerated to 3.1 in the 12-month to November 2015, up from 1.7 percent in October, amid loose monetary policy and excess liquidity in money markets.

Prices rose 1.4 percent during the month with the Colombo Consumer Price Index rising from 182.1 to 184.7 points.

Food prices rose 3 percent during the month. Sharp rises have been seen in the clothing and footwear sub- index which rose 18.4 percent in the year to November.

Similar price increases were seen in a credit bubble in 2011. A core inflation index which does not have some traded goods also rose 4.3 percent during the 12-months to November, slowing from 4.4 percent a month earlier. The index itself gained 0.1 points to 180.7.

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