Colombo: Inflation is on the rise in Sri Lanka, which is facing a massive economic downturn. Inflation increased by 60.8 percent in the month of July. It was 54.6 percent in June. The central bank has warned that inflation in the country will reach 75 percent.
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Food prices have also increased in the country. This rate was 80.1 percent in June and reached 90.9 percent by the end of July. The information was released by the Department of Census and Statistics of the country.
Going through the worst economic collapse since 1948, Sri Lankans are facing shortages of everything, including essentials. People can still be seen walking kilometers for fuel. It is alleged that the Rajapakse family, who were the rulers, created the economic crisis in the island nation.