Sri Lanka inflation rises in September

Sri Lanka's rate of inflation, on a year-on-year basis, rose to 5.8 percent in September 2010 for the second month in a row as consumer spending in the country has increased with rising prices.

Figures released Thursday by the Central Bank's Statistics Department showed that the annual average inflation increased marginally to 5.0 percent in September from 4.5 percent in the previous month.
The Consumer's Price Index increased nearly a percent to 220.7 in September from 218.6 in August.
The core inflation, which measures the price movement of non-food and non-energy items of the Colombo Consumers' Price Index (CCPI) basket, stabilized at 6.3 percent on an annual average basis, for the fourth successive month, while increasing marginally on a point-to-point basis, to 5.7 per cent in September 2010 from 5.5 per cent in the previous month, the Central Bank noted.
The Bank attributes the rise in inflation to the price increases, mainly in the food and non-alcoholic beverages, clothing and footwear.
However, the inflation rate is expected to remain in single digits for the remainder of the year.