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Monday December 6th, 2021
Economy

Sri Lanka’s inflation rise to 4.5-pct in May, foods up 9.9-pct

ECONOMYNEXT – Sri Lanka’s inflation rose to 4.5 percent in the 12 months to May 2021 from a year earlier, from 3.9 percent in the March, while food prices rose 9.9 percent, official data showed.

The Colombo Consumer Price Index grew 1.1 percent during the month of May to 140.3 points from 138.8 points a month earlier.

The food sub-index grew 9.9 percent during the year to May, up from 9.0 percent in April.

Sri Lanka’s rupee has fallen from around 182 at the beginning of 2020 to around 200 by May 2020 amid unusual money printing, though there was a credit collapse after lockdowns in April.

Credit started to pick up strongly in 2021, and another lockdown was imposed in the last week of May. (Colombo/June01/2021)

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