Sri Lanka's inflation rises to 4.7 pct as rupee weakens

COLOMBO, May 22 (Xinhua) -- Sri Lanka's year-on-year inflation rose to 4.7 percent in April 2026 from 2.4 percent in March, according to the Department of Census and Statistics, as price pressure increased mainly through the non-food category. The National Consumer Price Index for April stood at 216.3.

Non-food inflation doubled to 7.8 percent in April from 3.8 percent in March, while food inflation rose more moderately to 1.1 percent from 0.7 percent. The increase comes as the rupee faces renewed pressure against the U.S. dollar.

On Thursday, the Sri Lankan rupee fell to 342.62 per dollar, its weakest level since March 2023, making it Asia's worst-performing currency this month. Due to factors such as higher oil prices, the currency had fallen more than 10 percent against the dollar since the Middle East conflict began in late February.

The Sri Lankan government has already imposed an import duty surcharge on private vehicles, while its central bank has been intervening when necessary to limit currency market volatility. Deputy Minister of Finance and Planning Anil Jayantha Fernando has said further measures may be taken to support the rupee without weakening economic momentum. Enditem