Sri Lanka’s inflation hits nearly 70%


People buy vegetables and other essentials at a market in Colombo. Sri Lanka’s inflation rate hit 69.8% in September for a 12th consecutive monthly record, according to official data. – EPA pic, September 30, 2022.

SRI Lanka’s inflation rate hit nearly 70% in September for a 12th consecutive monthly record, official data showed today after a year of shortages, price hikes and economic misery. 

An unprecedented downturn forced the government to default on its US$51 billion (RM236.5 billion) foreign debt in April and go cap-in-hand to the International Monetary Fund (IMF) for a bailout. 


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