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Monday, 06 January 2014 - 7:20
Sri Lanka inflation 4.8-pct by citizen index
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Sri Lanka's inflation measured by a private consumer price index rose 4.8 percent in the 12 months of 2013 in line with the 4.7 percent measured by the state statistics office.

Sri Lanka is recovering from a balance of payments crisis in 2011/2013 where the rupee fell from 110 to 130 due to sterilized foreign exchange sales to defend a soft currency peg with the US dollar.

In Feb 2012, the rupee was floated, allowing the peg to fall to around 118 to the US dollar and interest rates were raised.

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