Sri Lanka’s Oct. annaulised inflation slips

Standing left to right – Mr. Dinesh Jebamani (Chief Manager Liability Product Management and New Age Media – Seylan Bank), Mr.Sudesh Peiris (Senior Manager – Digital Banking Channels – Seylan Bank), Ms. S.Senevirathne (Representative of the Revenue Department – Western Province), Mr. Tilan Wijeyesekera (Deputy General Manager – Retail Banking – Seylan Bank) and Mr. Malik Wickremanayaka (Deputy General Manager – Operations – Seylan Bank)

Sri Lanka’s inflation rate for October eased marginally to 12.5 percent due to a price reduction in some food items, the Census & Statistics Board said Monday. Sri Lanka’s inflation rate for October eased marginally to 12.5 percent due to a price reduction in some food items, the Census & Statistics Board said Monday. Authorities use the annual moving average – as measured by the Colombo Consumer Price Index – to calculate the country’s inflation data.

On a point-to-point basis, inflation for Oct. stood at 10.4 percent.

Prices of food items – which commands a 60 percent share of the basket – was mixed during the month with notable declines in milk powder, most varieties of fish and vegetables, chicken, beef and eggs.

However, price increases were noted in tea dust, coconut, bread, rice (samba variety), dried chillies, big onions, green chillies and limes, a few varieties of vegetables and fruits, prepared food and tinned fish, condensed milk and pasteurised milk experienced price increases during the month.

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

-LBO Newsdesk: