Sri Lankan central bank reveals inflation spike in 2012

sri-lanka

The Central Bank of Sri Lanka's Annual Report 2012, released yesterday, praised the country's economic achievements despite growth falling and inflation rising last year.

GDP growth fell from 8.3% in 2011 to 6.4% in 2012, which the central bank attributes to a "sluggish" global recovery and "unfavourable weather conditions".

Year-on-year inflation rose to 9.2% by the end of 2012, rapidly accelerating in the middle of the year as a result of supply-side factors, the report said. The average

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