Sri Lanka food prices hit record highs

President expressed hope of reviving the cash-strapped economy

COLOMBO:

Sri Lanka’s food prices rose by a record 22.1% in December, official figures showed Saturday, as the country struggles to finance urgent imports to tackle an acute shortage of essentials. The census and statistics department said food inflation hit an all-time high last month on a year-on-year basis since the Colombo Consumer Price Index (CCPI) was launched in 2013. The price increases in December compared to a figure of 17.5% in November, the previous record, the department said. It added that overall inflation was also at a record 12.01% in December, the highest since the CCPI index was launched. President Gotabaya Rajapaksa, in his new year message, expressed hope of reviving the cash-strapped economy but did not announce measures to address the crippling foreign exchange crisis. 

Published in The Express Tribune, January 2^nd, 2022.

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