Consumer prices in Sri Lanka jumped 12.1 percent year-on-year in December of 2021, accelerating from a 9.9 percent rise in the previous month. It was the highest inflation rate since December of 2008 due to a record 22.1 percent rise in price of food products compared to a 17.5 percent rise in November. The cash-strapped economy is struggling to finance urgent imports to tackle an acute shortage of essentials in the country leading to rationing of food by supermarkets for quite a few months now. Also, food shortages worsened as the government imposed a broad ban on imports, including agrochemical products amid pandemic to shore up foreign exchange reserves. At the same time, additional upward pressure also came from non-food products (7.5 percent vs 6.4 percent in November). On a monthly basis, consumer prices advanced 2.7 percent, following a 2.6 percent increase in November. source: Central Bank of Sri Lanka
Inflation Rate in Sri Lanka averaged 9.09 percent from 1986 until 2021, reaching an all time high of 28.30 percent in June of 2008 and a record low of -0.90 percent in March of 1995. This page provides - Sri Lanka Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Sri Lanka Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2022.
Inflation Rate in Sri Lanka is expected to be 12.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Sri Lanka Inflation Rate is projected to trend around 6.50 percent in 2022 and 6.00 percent in 2023, according to our econometric models.