Economics
Sri Lanka Inflation Hits a Record 39% as Shortages Persist
- Food inflation rose 57.4% in May, non-food climbed 30.6%
- Sri Lanka is seeking emergency aid to ease shortages
Shoppers at a grains stall at the Narahenpita Economic Centre in Colombo, Sri Lanka.
Photographer: Jonathan Wijayaratne/BloombergThis article is for subscribers only.
Sri Lanka’s headline inflation surged to a record in May amid continuing food and fuel shortages as the country struggles to lift itself out of its worst economic crisis.
Consumer prices in the capital Colombo rose 39.1% from a year ago, the Department of Census and Statistics said in a statement Tuesday. That’s faster than the median 35% climb forecast by economists in a Bloomberg survey and is the highest level on record.