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Sri Lanka’s inflation rate climbs to 13.2% in May

Dilshan Wirasekara, Chairman of the Colombo Stock Exchange

May 31, 2006 (LBO) – Sri Lanka's inflation rate for May rose as short supplies of consumer eatables like cream cracker biscuits, rice, bread, red onions, milk tea, fresh milk and dried chillies pushed prices up, the Census & Statistics Dept. said Wednesday. On a point-to-point basis inflation for May rose 13.2 percent over 9.2 percent recorded in April.

However, on an annualised basis, inflation moved up to 9.4 percent in May from 9.2 percent in April, the department said.

The twelve month moving average is usually taken as the official inflation figure by the government.

However, prices of dried fish and sour plantatins fell during the month, the statement said. As a result the Colombo Consumer Price Index or CCPI rose to 4553.1 in May over 4,321.6 in April.

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