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Sri Lanka launches producer price index

ECONOMYNEXT – Sri Lanka has started releasing a producer price index (PPI) which is useful for firm and can also give early warning on impending inflation, head of the state statistics office A J Satharasinghe said.

The index was 98.38 for April 2015, 99.95 for May and 98.82 for June 2015, indicating a fall in overall prices from the base.

The index measures factory and farmgate prices.

The PPI has a base of the 2013 fourth quarter.

While energy prices had fallen, prices of some foods have risen during the period, but the overall index was down.

Satharasinghe appealed to firms to provide the data to the statistics office. The data will be kept confidential from competitors officials said.

The PPI can be used as a replacement for e the current wholesale price index (WPI) compiled by the Central Bank, he said.

It has have agriculture, industry and utilities. Initially it covers the Western, Central and Southern provinces. (Colombo/Sept16/2015)

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