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Inflation in Sri Lanka hits a new record of 20.5% in January
Wednesday, 31 January 2007 - 11:24 PM SL Time
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Consumer inflation in Sri Lanka`s capital Colombo soared to a new record of 20.5 percent in the year to January, beating the 19.8 percent high reached in November, a report from the government`s statistics office showed Wednesday.
In January alone prices went up by 1.5 percent, measured by the Colombo Consumer Price Index.
In the year to December inflation was 19.3 percent.
The 12-month moving average of the index moved up to 14.8 percent up from 13.7 percent in December 2006.
This is the highest inflation seen in Sri Lanka for more than a decade.
Sri Lanka`s inflation started to rise from last March after the government started to print money to finance worsening cash deficit.
In late 2006, the Central Bank started tightening monetary policy.
At the January monetary policy meeting, the Central Bank did not raise interest rates, but later squeezed a liquidity window to the banking system and also reduced central bank credit to government.
Central Bank Governor Nivard Cabraal has announced tight money supply targets that limits central bank credit (printed money) to government to only 12 billion rupees in 2007.
The Central Bank has warned that inflation is likely to move up till the end of the first quarter before moderating.
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nale
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31 Jan 2007 17:30:47 GMT Report for Abuse
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When the pariah state has 105 ministers and need a stadium to have the meetings,the inflation of 20.5% is not a bad perfomance.
NAtional LEader/ELAN. |
Ruwani
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31 Jan 2007 17:39:39 GMT Report for Abuse
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Source(s)
? LBO
That tells it all. Btw, I was waiting for the non-citizen's response. I didn't have to wait too long. |
stopterro
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31 Jan 2007 17:42:43 GMT Report for Abuse
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| National terrorist dog: prabha--Crying and sobbing 'I have lost it all, I have LOST it ALL, we have No Hope!' after the death of balasingham |
stopterro
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31 Jan 2007 17:43:57 GMT Report for Abuse
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Prabha, Tamilchelvam are both lying pie holes (Pacha Hilak)
Edited By - stopterro - 31 Jan 2007 17:44:28 GMT |
nale
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31 Jan 2007 17:44:51 GMT Report for Abuse
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YEs! Proud dual citizen of People's Republic of Thamileelam and United Kingdom-the best states in the world.
NAtional LEader/EELAN.
Edited By - nale - 31 Jan 2007 17:46:33 GMT |
stopterro
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31 Jan 2007 17:48:06 GMT Report for Abuse
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Nale the psycho: Elaam = sri lanka in tamil. so what?
you are also part of sri lanka. 500 years of slavery to tamils must end. |
stopterro
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31 Jan 2007 17:49:10 GMT Report for Abuse
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Nale: your 'tamil' eelam is shrinking by the minute! RUN baby run in to the JUNGLE
Edited By - stopterro - 31 Jan 2007 17:49:27 GMT |
Ruwani
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31 Jan 2007 17:50:54 GMT Report for Abuse
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ST ayya,
When is the next 'Nekath Day' at SLAF. Now that the Donor conference is over, I guess it's the right time.
Edited By - Ruwani - 31 Jan 2007 17:51:17 GMT |
AnuD
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31 Jan 2007 18:04:47 GMT Report for Abuse
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AS theis news report says, this inflation is only for the colombo city.
There should be something wrong with how they calculate the Inflation.
Who ever doed that, inflation figure should be calculated the Fuel prices included and fuel prices excluded.
Because the mass transportation in SL is still the Railway and Bus.
Edited By - AnuD - 31 Jan 2007 18:05:32 GMT |
tamilcanuck
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31 Jan 2007 18:39:20 GMT Report for Abuse
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Onc learned gent here once mentioned that the higher the inflation the better its for the island. I'll leave it up to you'll to figure this patriot!
as inflation climbs the average dude will feel the pain and this in turn has a chance to stop the war. the economy is on life support lets see for how long!
central bank will be working overtime to print money and they'll need more of it as the day goes by! |
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