Sri Lanka's annual average inflation rises to 5.3 pct in November

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COLOMBO, Dec. 1 (Xinhua) -- Sri Lanka's annual average inflation rose to 5.3 percent in November while year-on-year inflation for the month rose to 9.9 percent, local media citing a statement from the Central Bank of Sri Lanka (CBSL) said here Wednesday.

The CBSL said that year-on-year headline inflation as measured by the Colombo Consumer Price Index rose to 9.9 percent in November compared to 7.6 percent in October.

Inflation was driven primarily by year-on-year food inflation which rose by 17.5 percent due to price hikes in items such as vegetables, rice, onions and chicken. Ill times of rain and flooding in some regions have affected harvests and increased the price of vegetables.

Meanwhile, year-on-year non-food inflation rose 12.8 percent driven by price hikes in housing, water, electricity, gas, and other fuels. Soaring global gas prices have led to local restaurants and bakeries increasing the prices of cooked food.

CBSL Governor Ajith Nivard Cabraal said last week that inflation may hit double digits in the coming months. The CBSL's Monetary Policy Review for November attributed inflation to supply disruptions and a surge in global commodity prices. Enditem

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