Drought-driven inflation expected in the days aheadFebruary 23, 2017, 9:16 pm
Although the World Bank predicts that Sri Lanka's inflation level would increase this year and the next, the country's inflation is not that high right now. It is now at a moderate level. But due to the drought conditions the agriculture sector would be badly affected, creating some reflationary pressure to the country in the days ahead, Professor of Economics, University of Colombo Dr. Sirimal Abeyratne said.
"This inflationary trend would have ripple effects among all sectors. Consequently, there would be an increase in the prices of essential products and the cost of production may rise many fold, Abeyratne told The Island Financial Review. He said that more than 30 percent of the population depends on the agriculture sector and given the drought condition, prices of some necessities will increase, Abeyratne explainedRead More...
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Last Updated Feb 23 2017 | 09:15 pm