Samagi Jana Balawegaya Parliamentarian Harshana Rajakaruna says the price of a 400g packet of milk powder will increase to Rs.5,000 and a loaf of bread will increase to Rs.500 in the future.
Speaking during a media briefing in Colombo today, MP Rajakaruna cited the appreciation of the US dollar and the new regulations imposed on imports as a reason.
The Parliamentarian said the US dollar traded at Rs.260 yesterday, and cited an unpredictably over the dollar rate in future.
He said banks have increased service charges by 500% as well.
He claimed transaction fees when importing essentials, which were a fraction of the invoice price, have increased to 5%.
MP Rajakaruna said prices of imported goods such as dhal will increase, mainly due to the rupee depreciating against the dollar, and due to banking charges.
The MP said the public was further burdened by Lanka IOCs fuel price hike.
He said diesel and petrol prices which were increased recently were once again increased with the price of a litre of petrol going up by Rs.50 while a litre of diesel increased by Rs.75.
MP Rajakaruna said prices of all goods and services will be affected by the fuel price hike.
He said not only vehicle owners but all individuals will experience the adverse effects of this development.
MP Rajakaruna said the public is being forced to spend days in fuel queues.