Rupee’s free float fires up more price increases

Following the sharp devaluation of the rupee by nearly 30% under a free-float regime, prices of several more products and services were jacked up yesterday.

Milk powder importers said the price of  milk powder has been increased with a 400 g packet rising by to Rs. 800 from Rs. 540 and a kilo packet of milk powder increased from Rs. 1,345 to Rs. 1,945.

Local milk powder producers also increased the prices with Pelawatta 400 g milk powder packet rising by Rs. 105 to Rs. 625.

Canteen Owners Association said the price of a cup of milk tea will be increased to Rs. 100.

LAUGFS Gas dealers said the price of 12.5 kg cylinder was increased to Rs. 4,199 and a 5 kg cylinder to Rs. 1,680.

Mobile operator Dialog Axiata said due to an increase in cost for international operator charges resulting from the depreciation of the rupee, it was compelled to revise the Dialog IDD call and SMS rates, effective from 19 March.