Bankrupt Sri Lanka’s inflation jumps beyond 50% ...Middle East

COLOMBO: Sri Lanka's inflation hit a ninth consecutive record in June, official data showed Friday, rising to 54.6 percent a day after the IMF asked the bankrupt nation to rein in galloping prices and corruption.It was the first time the increase in the Colombo Consumer Price Index (CCPI) crossed the psychologically important 50 percent mark, according to the department of census and statistics.The figures came hours after the International Monetary Fund urged Sri Lanka to contain spiralling inflation and address corruption as part of efforts to salvage the troubled economy, which has been ravaged by a foreign exchange crisis.The IMF ended 10 days of in-person discussions with Sri Lankan aut

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Bankrupt Sri Lanka’s inflation jumps beyond 50% ...Middle East

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