Harsha on ‘Mathata Thitha’ and inflation

Thursday, 1 August 2013 02:19 - - {{hitsCtrl.values.hits}}

UNP MP Dr. Harsha de Silva said yesterday despite tobacco and liquor consumption forming a key part of household expenditure, the hike in their prices yesterday wouldn’t reflect in the official cost of living index due to the ‘Mathata Thitha’ policy of the regime. The average household in Sri Lanka spends 3.7% of the total non-food expenditure on alcohol and tobacco (as per the 2009/10 Household Income and Expenditure Survey). This compares with 7.1 on rent, 4.2 on communications, 5.6 on education and 4.3 on durable goods. “In every country when any consumer item goes up in prices, that is reflected in the inflation index. That is every country except Sri Lanka. That is because Sri Lanka excludes alcohol and tobacco from its inflation calculation because on a concept called ‘Mathata Thitha!’” the UNP MP said in a statement.

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