Sri Lanka inflation hits record 14 percent as food crisis worsens
Gulf Times
Sri Lanka consumer prices shot up a record 14 percent in December, surpassing a previous high of 11.1 from a month earlier, official figures showed on Saturday as food and fuel shortages worsen.
Senior ministers warned parliament earlier in the week of a growing food crisis with rice harvests due in March expected to be drastically lower after an agrochemical import ban last year saw farmers abandoning more than 30 percent of agricultural land.
The island's tourism-dependent economy has been hammered by the pandemic with the government imposing broad import restrictions to avert a foreign exchange crisis, triggering a shortage of essential goods.
The Census and Statistics Department said year-on-year inflation in December was the highest since the National Consumer Price Index (NCPI) was established in 2015.
