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Tuesday June 22nd, 2021
Economy

Sri Lanka’s inflation at 4.1-pct in November 2020

ECONOMYNEXT – Sri Lanka’s 12-month consumer inflation edged up to 4.1 percent in November 2020, from 4.0 a month earlier with the index rising 0.4 percent during the month, data from the state statistics office showed.

The Colombo Consumer Price Index grew to 137.1 points in November from 136.5.

Food prices rose 1.2 percent during the month, and non-foods 0.2 percent, driven up mostly by a rise in transport costs.

Sri Lanka’s private credit has been weak up to August 2020, while credit to government has expanded, though part of it has been paper.

The central bank which allowed to rupee to fall to 200 to the US dollar in March and April amid a spike in credit has allowed it to fall back to 185 levels to the US dollar as credit contracted.

However private credit has started to pick up, with excess liquidity of close to 185 billion rupees or close to a billion dollars is now parked in the central bank. (Colombo/Nov30/2020)

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