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| Sunday, 13 June 2004 |
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Cabinet sub-committee to combat price hike by Chamitha Kuruppu A ministerial sub-committee appointed to study the high cost of living, failed to meet on Tuesday due to the disturbed situation that erupted in Parliament. It is expected to meet soon to take measures to combat the rising prices of essential goods. The Cabinet, which met two weeks ago appointed this ministerial sub-committee to look into the rise in prices of rice and other commodities and its impact on the cost of living. The committee chaired by Premier Mahinda Rajapakse comprised Finance Minister Sarath Amunugama, Trade and Consumer Affair Minister Jeyaraj Fernandopulle and Agriculture and Livestock Development Minister Anura Dissanayaka. The Colombo Consumers' Price Index (CCPI) for May indicated an increase of 12.6 index points (3.7%) from April. According to the Department of Census and Statistics this is an increase of Rs. 256.64 in the Expenditure Value of 'Market Basket' compared to April. According to the department the CCPI increased during May compared to the previous month, the annual inflation rate on the basis of 12 months moving average in May is 3.7 per cent, same as in April. |
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