Sri Lanka’s rising inflation in April due to escalating fuel prices

May 03, Colombo: The marginal increase in of 0.1 percent in the Colombo Consumer Price Index during the month of April was mainly due to the changes in fuel and gas prices during the month, the Central Bank of Sri Lanka said Tuesday.

Figures released last week by the Statistics Department of the Central Bank showed that the year-on-year inflation increased to 9.8 percent in April from 8.6 percent in March.

“The contribution to the monthly increase of 0.1 per cent in the Index came from price increases in the non-food items, mainly due to mainly due to the revision in the prices of fuel and gas during the month,” the Central Bank noted.

Food prices have declined 1.7 percent as prices of almost all major food items such as rice, vegetables, green chilies, most varieties of fresh fish, big onions, red onions, eggs, coconut, and coconut oil had gone down due to increased supply although prices of chicken, fruits and potatoes have gone up due to seasonal demand.

Increasing prices of fuel, gas, and kerosene have contributed to a 3.1 percent hike in the sub category of Housing water, and electricity and a 2.8 percent rise in the Transport sub category prices.

Price increases have also been registered in the sub categories of clothing and footwear furnishing and household equipment.

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