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

“Raja Lunu” to hit the market soon

Published

4 hours ago

March 20, 2025

editor

The National Salt Limited has announced plans to release a new brand of table salt under the government label, named “Raja Lunu,” to the local market in the near future.

This launch coincides with the formal transfer of the Alimankada Salt Factory to public ownership on the 29th of this month.

Chairman of National Salt Limited, Mr. Gayan Wellala, stated that the factory will produce and distribute “Raja Lunu” salt at an affordable price, aiming to offer a quality product at a concessionary rate.

BIZ

CAA confiscates Keeri Samba stocks worth over Rs. 3.8 mn.

Published

17 hours ago

March 19, 2025

editor

The Consumer Affairs Authority (CAA) has confiscated a stock of Keeri Samba rice worth over Rs. 3.8 million.

The stocks were officially seized today (March 18) following a legal case against two shop officials in Colombo 12.

On February 11, the Colombo Chief Magistrate’s Court (No. 5) fined shop owner Abdul Jabbar Mohamed Siyas and manager Kuruppan Murugayya Rs. 10,000 and Rs. 20,000, respectively, after they pleaded guilty to hoarding rice.

The case was filed after a raid conducted by the CAA revealed that the shop falsely claimed to be out of Kiri Samba rice, despite hiding 3,000 five-kilogram packs on the premises.

Under the Consumer Affairs Authority Act, when a retailer is found guilty of falsely declaring goods unavailable, the court has the authority to confiscate the stock.

BIZ

Delegation of Indian automobile manufacturer visits SL

Published

24 hours ago

March 19, 2025

editor

A 18-member delegation from the Society of Indian Automobile Manufacturers (SIAM) visited Sri Lanka from March 17 – 18, 2025.

The delegation included representatives from leading Indian vehicle manufacturers across all segments, including commercial vehicles, passenger vehicles, two-wheelers, and three-wheelers.

During the visit, the delegation called on Minister of Industry and Entrepreneurship Development, Hon. Sunil Handunneththi, and Deputy Minister of Industry and Entrepreneurship Development – Chathuranga Abeysinghe.

In addition, they held meetings with senior officials from the Ministry of Finance, Board of Investment of Sri Lanka, and with the members of Ceylon Motor Traders Association.
The delegation also met Deputy High Commissioner of India, Dr. Satyanjal Pandey, and apprised him on the operations of Indian automobile companies in Sri Lanka.

This visit further strengthens the economic partnership between India and Sri Lanka, fostering collaboration and development in the automobile industry.