Inflation up: 16.8%

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Inflation up

Sri Lanka’s nationwide inflation has reached 16.8 between 2021-22 January. Increased printing of money has been identified as the main cause of this high rate of inflation.

Parallelly the National Consumer Price Index has been continually increasing around 3% within the three months.

In Sri Lanka, the broader consumer price index, which also includes services that are rising slowly, has risen 17% over the last two years.

Food prices have risen by 40% while shortages are speculated.

Since 2020 money printing was introduced as a strategy to boost a production economy.

Sri Lanka has printed 1.2 trillion rupees in 2021 d in 2020- 505.9 billion rupees had been printed, based on official data

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