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Sri Lanka Inflation May Exceed 7% After Floods, Official Says

Sri Lanka’s inflation rate may rise to more than 7 percent in January after floods damaged vegetable and paddy crops this month, according to the head of the prices division in the statistics department.

“Point-to-point inflation will be affected and could be between 7 percent and 7.5 percent with vegetable prices going up,” D.C.A. Gunawardena, director at the Department of Census and Statistics, said by telephone from Colombo today. Price controls on rice and “static” fuel costs would help limit the gains, Gunawardena said.