Despite the moderation, the central bank said the prices of food and beverage increased by 16 percent during the period. The prices of non-food and services, on the other hand, rose by 4.2 percent.[break]
The latest macro-economic report released on Tuesday shows that the prices of vegetables soared by the highest rate of 48.3 percent in mid-May, followed by spices at 29 percent and fruits by 14 percent. Among the non-food and service items, the price of clothing and footwear increased by 15.4 percent during the period.
Likewise, country´s exports rose by 5.5 percent to Rs 52.67 billion during the first ten months of the fiscal year 2010/11, recovering from the drop of 11.7 percent recorded in the same period last year.
"While exports to India grew by 8.1 percent, exports to other countries increased by 0.8 percent," the report stated.
Total imports increased by 4.8 percent to Rs 321 billion. Of the total imports, import from India soared by 23.9 percent, while import from other countries plummeted by 20.5 percent.
Despite slow import growth, total trade deficit widened by 4.6 percent to Rs 268.14 billion. Trade deficit with India rose by 27.6 percent, whereas trade deficit with other countries declined by 23.7 percent -- thanks to sharp drop in gold imports.
The overall balance of payment (BoP) recorded a deficit of Rs 11.67 billion during the period. BoP deficit in the same period last year was Rs 14.03 billion.
Amid slowed remittance growth rate, the gross foreign exchange reserve of the country declined by 3.7 percent to Rs 259.01 billion in mid-May, according to the report.
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