Qatar – Sri Lanka food prices hit record highs as shortages bite

Qatar – Sri Lanka food prices hit record highs as shortages bite

Sri Lanka's food prices rose by a record 22. 1 percent in December, official figures showed Saturday, as the country struggles to finance urgent imports to tackle an acute shortage of essentials. The census and statistics department said food inflation hit an all-time high last month on a year-on-year basis since the Colombo Consumer Price Index (CCPI) was launched in 2013. The price increases in December compared to a figure of 17. 5 percent in November, the previous record, the department said. It added that overall inflation was also at a record 12. 01 percent in December, the highest since the CCPI index was launched. President Gotabaya Rajapaksa in his New Year message expressed hope of reviving the cash-strapped economy but did not announce measures to address the crippling foreign exchange crisis. 'I am confident that the new year will provide an opportunity to further the steps taken by the government to pursue and overcome challenges and strengthen the people-centric economy,' he said. International rating agencies have downgraded Sri Lanka and raised concerns about its ability to service its debt of $26 billion. The latest inflation figures were released a day after the government increased the price of milk powder