Price hikes in cigarettes and alcohol fails to ignite Sri Lanka’s inflation

Sri Lanka’s inflation rate for November eased marginally to 12.1 percent, despite price hikes in cigarettes and alcohol, the Census & Statistics Board said Wednesday. Sri Lanka’s inflation rate for November eased marginally to 12.1 percent, despite price hikes in cigarettes and alcohol, the Census & Statistics Board said Wednesday. The government uses the 12-month average – as measured by the Colombo Consumer Price Index – to calculate the country’s inflation data.

Prices of food items – which commands a 60 percent share of the basket – was mixed during the month with notable declines in dried fish and eggs.

However, price increases were noted of alcohol, cigarettes, rice, bread, condensed milk, milk tea, dried chillies, limes, red onions, coconut oil, most varieties of fresh fish, coconuts, potatoes and most varieties of vegetables.

Sri Lanka’s Central Bank expects year end inflation to rise up to 10.0 percent from 7.6 percent in 2004.

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