Sri Lanka’s inflation nudged up to double digit levels in August

Sri Lanka’s inflation nudged up to double digit levels in August, as a hefty oil bill and a falling rupee took its toll on the economy. Sri Lanka’s inflation nudged up to double digit levels in August, as a hefty oil bill and a falling rupee took its toll on the economy. The Central Bank said Tuesday that point-to-point inflation jumped to 10.5 percent in August, from 8.5 percent in July. By crossing the psychological double digit figure, August data is the highest since February 2003.

Analysts expect inflation to pick up in the coming months, as the government gradually eases off on subsidies on fuel, fertilizer, food and electricity.

-LBO Newsdesk: LBOEmail@vanguardlanka.com