Bankrupt Sri Lanka's inflation jumps beyond 50%

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COLOMBO: Sri Lanka's inflation hit a ninth consecutive record in June, official data showed Friday (Jul 1), rising to 54.6 per cent a day after the IMF asked the bankrupt nation to rein in galloping prices and corruption.

Private economists say consumer prices are rising even faster than shown in official statistics.

The IMF ended 10 days of in-person discussions with Sri Lankan authorities in Colombo on Thursday following the country's request for a possible bailout.

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Category: Economy

Topics: Lanka Inflation Been Mediacorp Official Corruption Rising Cent Prices Country Time

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-07-01, 18:00:00

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Reading Time: 3 minutes read

Article Length: 398 words

Coverage Area: Singapore

Availability: Desktop Web, Mobile Web

News ID: 24839

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