Sugar Importers says will increase the wholesale Price of Sugar by Rs.15 per kilo and retail price of Sugar (1kg) by Rs.20 to Rs. 25 with immediate effect.

This is the latest in a series of price increases reported this week. The increase, market sources said, was mainly due to the depreciation of rupee.

The price increase of Sugar is expected to impact several prices of several other prices said.

Sri Lankan rupee hit a new record low against US Dollar today, and depreciated to Rs. 167.41.

It was just yesterday that the Sri Lanka rupee plummeted to Rs. 166.64 for the first time in history.

Commenting on the matter at the last Cabinet meeting, Minister Rajitha Senaratne said the cost of still, despite some price hikes, was still lower than the Rajapaksa era.