SL has fifth highest food price inflation in world
Sri Lanka has the fifth highest food price inflation in the world, according to the latest World Bank Food Security assessment.
Sri Lanka is only behind Lebanon, Zimbabwe, Venezuela and Turkey, according to the World Bank.
The Food Security Update states that there is high food inflation in almost all low and middle-income countries.
Sri Lanka ranks fifth in the list with Nominal food inflation at 91% (YoY), behind only Lebanon (332%), Zimbabwe (309%), Venezuela (155%) and Turkey (95%).
“In Sri Lanka, agricultural production has decreased by 40 percent to 50 percent because of fertiliser shortages, and there is a lack of foreign exchange to purchase food imports. Fertiliser and fuel (for land preparation, transport, and harvesting activities) shortages are expected to limit the food supply,” the World Bank said.
