Inflation could rise over 70% – CB Governor
According to its forecasts, the Central Bank of Sri Lanka states that there is a possibility of further increase in inflation in the short term.
Accordingly, Central Bank Governor Dr. Nandalal Weerasinghe says that inflation may increase to 70 percent in the next few months.
However, the Central Bank further points out that according to those forecasts, inflation may decrease significantly from the beginning of 2023.
The central bank says that the current policy measures are the cause of this and that these forecasts also include assumptions about the global oil price and food price decrease.
Meanwhile, The Central Bank further pointed out that many measures are being taken to strengthen the country's foreign reserves adding that there is considerable progress in the discussions with the International Monetary Fund.