Country’s inflation rate will drop to single digit by December: Siyambalapitiya | Sri Lanka News

By December the country's inflation rate would be brought down to a single digit from the previous level, said Finance State Minister Ranjith Siyambalapitiya.

The minister stated this while speaking to the media after a function at the Sithavakapura City Hall, Avissawella.

While commenting further, the minister added that a few months ago, during the hyperinflation conditions, our country had been ranked fifth in the world.

“According to a survey conducted by John Hopkins University, our country was listed as the fifth country with a higher inflation rate. It was a serious situation. However, the university has now removed Sri Lanka from the list a few days ago,” the minister said.

He said the food inflation in our country which was at 95% has come down to 60% now, while the average inflation rate which was at 70%, has come down to less than 50%.

“With these details, Sri Lanka can be identified as a country that is restoring itself very quickly after facing many difficulties,” he added.

The Central Bank of Sri Lanka (CBSL) too has appreciated the measures taken to restore the country’s economy and has said that the inflation would come down to a single digit by this December, said Minister Siyambalapitiya. (Chaturanga Pradeep Samarawickrama)

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