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Monday October 25th, 2021
Economy

Sri Lanka’s national inflation at 6.7-pct in August 2021

ECONOMYNEXT – Sri Lanka’s nation-wide inflation was measured at 6.7 percent in the 12-months to August 2021 slowing from 6.8 percent in July, but prices went up 0.3 percent during the month, data from the state debt office showed.

Sri Lanka’s National Consumer Price Index rose to 147.1 points in August from 146.6 points in July.

The food price index grew 11.1 percent in the year to August from 11 percent in July.

Sri Lanka has been printing large volumes of money over the past 18 months, triggering a balance of payments deficit (a fall in international reserves to redeem printed money) while the currency has also fallen to around 230 to the US dollar from 182 in the over-the-counter market.

The central bank has started to tighten monetary policy but confidence in markets is thin. (Colombo/Sep22/2021)

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