Sri Lanka’s national inflation falls to 2.8-pct in March 2018

ECONOMYNEXT – Sri Lanka national inflation fell to 2.8 percent in the 12-months to March 2018, with the index falling 0.7 percent in the month, the state statistics office said.

Food prices had fallen 0.8 percent, while non-foods had risen by 0.08 percent.

The statistics office said prices of vegetables, big onions, chillies, potatoes and coconuts fell, while infant milk powder, eggs and limes fell.

Sri Lanka’s central bank has tightened monetary policy over the past two years and also mopped up liquidity after purchasing dollars, restraining credit, but it had also depreciated the currency, pushing up the prices of imports and exports including oil.

Retail oil prices have been held, but the statistics office said the price hike by one distributor had pushed up non-food costs in March.

The central bank has said that inflation will be in mid single digits in 2018 even after fuel price hikes. (Colombo/Apr23/2018)


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