Sri Lanka Inflation Hits 64.3% in August on Costlier Fuel
- Policy makers see prices gains moderating as demand shrinks
- Interim budget raised taxes, announced debt reduction targets
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Sri Lanka’s headline inflation climbed to a fresh record in August, although the spike is unlikely to force the central bank to resume tightening interest-rates just yet.
Consumer prices in the capital Colombo rose 64.3% from a year ago, versus 60.8% a month earlier, the statistics department said in a statement Wednesday. That compares with the median 68.8% gain seen in a Bloomberg survey.