By Sajeniya Sathanandan
Sri Lanka’s economy is being tested by external pressures with a rising US dollar and escalating international conflicts driving up the cost of fuel imports, domestic cooking gas, and electricity. Traders and consumers are trapped in a dilemma of unpredictable price changes.
Traders claim that importers are absorbing much of the cost pressures and retailers are operating with small profit margins.
Professionals in the Pettah trade sector told the Sunday Times that to prevent a drop in demand, importers have been operating on very thin margins, despite the strengthening US dollar.
The US dollar has been fluctuating between Rs. 318 and Rs 320, which is seen as a big factor affecting prices.
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Heavy showers are expected to continue In several provinces across the country with some 30,000 persons already displaced due flooding.
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