Sri Lanka’s April inflation accelerates to 6.1 percent

Apr 30, 2012 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 6.1 percent from a year earlier, accelerating from 5.1 percent in March, the state statistics office said. The index rose 0.6 percent in the month to 159.8. The food and non-alcoholic beverages component rose 1.0 percent and non-food items rose 0.1 percent.

Sri Lanka’s food prices rose steeply in the first quarter of 2011 and the food component was negative for the past several months. In the past 12 months the food index had climbed 0.2 percent.

Non foods however had risen 11.3 percent. Following steep increases in fuel and power, transport costs rose.

Sri Lanka’s rupee has also fallen from 110 to the US dollar to 130 so far amid pressured by high credit growth and sterilized sales of foreign exchange by the Central Bank.

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