Sri Lanka reacts as inflation hits record high

The Central Bank of Sri Lanka has lowered its reserve money targets in a bid to curb rampant inflation which soared to an all-time high in the year to April.

The New Colombo Consumers' Price Index measure, introduced in December 2007, rose by 25% according to data published on Wednesday. The Colombo Consumers' Price Index was up by 29.9%.

The central bank said on Wednesday that high commodity prices and oil-price inflation "far in excess of expectations" had led to the surge. The central bank

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