The price of a locally produced milk powder has been increased with immediate effect following imposition of 2.5% Social Security Contribution Levy which has a disastrous cascading effect.

The industry announced that the price of a 400 g pack will increase by Rs. 100 to Rs. 950 and that of 1 kilo pack is up by Rs. 230 to Rs. 2,350. Despite the increase, the Made in Sri Lanka milk powder is cheaper than the imported product, a 400 g pack of which is priced at Rs. 1,160.

Separately, the two flour companies have also increased their price by Rs. 13 per kilo.

The hikes come amidst soaring food inflation, which peaked to 95% in September as per the Colombo Consumer Price Index and 84.6% in August as per the National Consumer Price Index.

Local cement firms reduce price by Rs. 100