Sri Lanka inflation to ease to 5.5-pct by year-end: CB Governor

ECONOMYNEXT – Inflation in Sri Lanka, which hit a high of 8.6 percent in March this year, but has begun to fall, is expected to ease further, Central Bank Governor Indrajit Coomaraswamy said.

Inflation is expected to come down to 5-5.5 percent by year-end, he told a meeting of the Foreign Correspondents’ Association of Sri Lanka.

Inflation went up partly because of the base effect, with petroleum prices having been low last year, which meant the island had imported disinflation, Coomaraswamy said.
The increase in value-added tax and depreciation of the rupee against the dollar were other factors that pushed up inflation over the Central Bank target, he said.
(COLOMBO, May 18, 2017)

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