Commonly used medicines: Prices up 40%

COLOMBO: Sri Lanka announced a 40 percent price hike for dozens of commonly used medicines, AFP reported.

Antibiotics, non-prescription painkillers and medications for heart conditions and diabetes will all be subject to the price rise, health minister Channa Jayasumana said.

It is the second time in six weeks that pharmaceutical prices have been raised.

In mid-March a 30 percent increase was imposed.

Industry officials said the latest hike was necessary to offset the impact of fuel prices, which have doubled since December.

Official figures showed Sri Lanka’s inflation rate at nearly 30 percent in April, a seventh consecutive record high.