Sri Lanka Sees Highest Deflation In Over Six Decades

Sri Lanka’s consumer prices fell by 2.1% in November, marking its steepest deflation since 1961, official data revealed. After a severe financial crisis in 2022, inflation had surged to nearly 70%. The country is recovering with a $2.9 billion IMF bailout, tax hikes, and austerity. The central bank predicts continued deflation, with inflation expected to stabilize at 5% in the coming months.