Sept. inflation climbs up to 11.6%, as a hefty oil bill and a falling rupee takes its toll on the economy

Inflation data for Sept climbed up to 11.6 percent, as a hefty oil bill and a falling rupee took its toll on the economy. Inflation data for Sept climbed up to 11.6 percent, as a hefty oil bill and a falling rupee took its toll on the economy. Inflation as measured by the Colombo Consumer Price Index hit double digit levels of 10.5 percent in Aug. on a point-to-point basis, the Dept. of Census & Statistics said Thu.

Besides a hike in essential food items like rice, bread, sugar, milk tea, limes, red onions and some types of fresh fish, other services such as cinema tickets, arrack, bus fares and cigarettes also went through price shocks.

“These price increases in food items can be mainly attributed to short supply of consumer goods to the main markets in Colombo City and the influence of recent price increases of fuel,” the statement said.

However, prices of fresh fish – paraw, shark, dried fish – koduwa and some varieties of vegetables have decreased during this month, the statement added.

Annual inflation rate on the basis of 12 months moving average increased to 5.4 percent in September, 2004 from 4.