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Sri Lanka's annual inflation rises to seven-month high

Colombo, Tue, 01 May 2012 ANI

Colombo, May 1 (Xinhua-ANI): Sri Lanka's annual inflation rate rose to 6.1 percent last month reaching a seven-month high compared to 2011, showed latest data on Tuesday.

The data released by the Central Bank pointed out that April's annual inflation has risen marginally compared with the March figure of 5.5 percent.

"The contribution to the monthly increase in the index came mainly from price increases in the food category, which rose by 1. 0 percent," a statement from the Central Bank said admitting that higher cost of living was affecting the poor.

However, it insisted that costs for health, communication and education remained unchanged in April and the spike in prices for other essentials were due to the Sinhala and Tamil New Year driving up costs.

Rapid depreciation of the rupee in the past three months has forced prices of imported goods to rise. From early February to the end of April the rupee has declined by around 16 percent ending at 131 against the dollar this month. (Xinhua-ANI)

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