Sri Lanka inflation eases to 4.0-pct in July

ECONOMYNEXT – Sri Lanka’ 12-month inflation eased to 4.0 percent in July 2019 from 4.2 percent in June the state statistics office said.

Consumer prices in the month fell absolutely 0.2 percent with the Colombo Consumer Price Index falling from 130.2 points to 130.0.

The food and non-alcoholic beverage sub group fell 0.7 percent during the month, after rising 2.6 percent in June. Non-foods were flat.

Sri Lanka rupee fell sharply in 2018 amid policy errors and  strengthening US dollar. Global commodity prices had also been stable amid a stronger dollar.

The US Fed has just cut rates by 25 basis points. (Colombo/July01/2019)

 

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