BIZ

Sri Lanka’s NCPI- based inflation drops last month

Published

2 years ago

April 21, 2023

editor

The National Consumer Price Index (NCPI) for the month of March 2023 was recorded at 49.2%, as measured by the year-on-year change, the Department of Census and Statistics (DCS) revealed in its latest report.

This is a slight decrease in comparison to the headline inflation of 53.6% recorded in February 2023.

Compared to March 2022, the reported inflation for the month of March 2023 was mainly due to the higher price levels prevailed in both food and non-food groups, according to the DCS report.

On a monthly basis, the year-on-year inflation of the food group decreased to 42.3% in March 2023 from 49.0% in February 2023. The year-on-year inflation of the non-food group meanwhile dropped to 54.9% in March 2023 from 57.4% in February 2023.

The contributions (year-on-year) to the inflation recorded in March from the food group and non-food group stood at 18.92% and 30.28%, respectively in comparison to March 2022.

BIZ

1st stock of imported coconut milk to undergo clearance, lab testing today

Published

2 days ago

May 31, 2025

editor

The first consignment of imported coconut milk under the Government’s raw material importation programme is scheduled to undergo clearance and laboratory testing today (31), as part of a coordinated initiative by the Plantation Industries Ministry.

This initiative, approved by the Cabinet, aims to supply essential raw materials to industries linked to the coconut sector, aiming to reduce domestic coconut prices and support local manufacturers. The consignment currently under clearance includes products equivalent to 200 million coconuts. They are in the forms of frozen coconut milk, coconut milk powder and chunked coconut with testa (non-copra), imported as part of the programme initiated in March 2025. The stock will be used primarily in the coconut milk powder industry, which has been facing raw material shortages. The Plantation Industries Ministry expects this move to reduce the pressure on local coconut supplies and contribute to a drop in retail coconut prices.

(dailynews.lk)

(Except for the headline, this story, originally published by dailynews.lk has not been edited by SLM staff)

BIZ

BoC employees to strike over unpaid incentives

Published

3 days ago

May 29, 2025

editor

Employees of all Bank of Ceylon (BoC) branches have decided to walk out of service at 12.30 pm today (May 29).

The decision has been taken over the current management not taking the initiative to provide them with the 06-month incentive package approved by the Board of Directors, according to the Bank Employees’ Union.

Central Committee member of the Bank Employees’ Union – Najith Wijeratne, stated that they will initiate a token strike if this issue is not resolved by June 06.

BoC employees have also held lunchtime protests yesterday (May 28) in front of 22 branches in major cities islandwide.

BIZ

Imported salt released to market

Published

4 days ago

May 29, 2025

editor

The National Salt Ltd. says that 2,800 MT of salt imported from India have been released to the market.

It says the food-grade salt stock, which arrived on May 23, is being distributed to the market through local salt sales agents for consumer sale.

The Ministry of Industry and Entrepreneurship Development states that Lanka Salt Ltd. is importing 10,000 MT of salt, while over 100 importers, including those from Pettah, are bringing in an additional 100,000 MT.