Sri Lanka inflation dips to lowest point since crisis
The Peninsula
Colombo: Crisis hit Sri Lanka s annual inflation dipped sharply to 0.5 percent in August, the lowest year on year rate since the country declared bank...
Colombo: Crisis-hit Sri Lanka's annual inflation dipped sharply to 0.5 percent in August, the lowest year-on-year rate since the country declared bankruptcy in April 2022, official data showed Friday.
August inflation was down from 2.4 percent in July and 4.0 percent the same time last year.
The reading came three weeks ahead of Sri Lanka's first election since the unprecedented economic crisis that sparked months of food, fuel and pharmaceutical shortages.
The resulting civil unrest forced then-president Gotabaya Rajapaksa to briefly flee the country and resign from abroad.
At the time, inflation peaked at nearly 70 percent.
