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Market Update: Sri Lanka Producer Prices Climb the Most in 3 Years
Producer prices in Sri Lanka jumped 9.8 percent year-on-year in April of 2021, following an upwardly revised 8.1 percent hike in the previous month. It was the steepest increase in producer prices since March of 2018, as prices climbed firmly in manufacturing (12.7 percent vs 11.5 percent in March), mostly in manufacturing of coke, refined petroleum products and nuclear fuel (31.4 percent); manufacturing of wearing apparel, dressing and dyeing of fur (20.3 percent); manufacturing of rubber and plastics (16.8 percent); and manufacturing of basic metals (15.4 percent). Upward pressure came from agriculture (12.7 percent vs 10.0 percent), primarily from farming of animals (17.1 percent). On the other hand, charges declined albeit at a slower pace in electricity and water supply (-1.6 percent vs -4.8 percent). On a monthly basis, producer prices advanced 1.7 percent, following a revised 1.0 percent increase in the prior month. source: Department of Census and Statistics – Sri Lanka [/s2If]
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