Aug 22 (Reuters) - Sri Lankan shares rose for a third straight session on Monday, lifted by gains in industrial conglomerates, while data released after market hours showed the national consumer price index surged in July.

* The CSE All-Share index closed 1.25% higher at 9,087.59 and is up 17.5% so far this month. It had declined 0.6% last week after five straight weeks of gains.

* Sri Lanka's National Consumer Price Index, which captures broader retail price inflation across the island nation and is released with a lag of 21 days every month, soared 66.7% year-on-year in July after a 58.9% rise in June.

* Inflation is expected to rise in August after Sri Lanka revised electricity tariffs. The central bank said last week that inflation could hit 60%-65% and was likely to peak in September.

* On Saturday, the International Monetary Fund said it would need "adequate assurances" from Sri Lanka's creditors for a new program as it prepares a visit to Colombo later this month.

* The IMF visit is aimed at making progress on a staff-level agreement for an aid package to help the country weather a severe economic crisis.

* Conglomerate Expolanka Holdings boosted the CSE All Share index with a 6.8% surge, while LOLC Holdings jumped 4.9%.

* Meanwhile, lender LOLC Development Finance tumbled 33.6%.

* Trading volume slipped to 130.1 million shares from 145.4 million shares in the previous session.

* The equity market turnover was 3.14 billion Sri Lankan rupees ($8.77 million), according to exchange data.

* Foreign investors were net buyers in the equity market, purchasing 142.2 million rupees worth of shares, while domestic investors were net sellers, offloading 3.06 billion rupees worth of shares, data showed.

* For a report on global markets, click ($1 = 358.0000 Sri Lankan rupees) (Reporting by Chris Thomas in Bengaluru; Editing by Devika Syamnath)