Sri Lanka’s inflation hit 119%: Hanke’s Inflation Dashboard

As of April 21, 2022, the annual inflation in Sri Lanka is at a sky-high of 119 percent, revealed Hanke’s Inflation Dashboard by Prof. Steve Hanke, an economist at the Johns Hopkins University in the United States.

Accordingly, Sri Lanka has the third highest inflation in the world, while Zimbabwe marks an annual inflation of 207% ranking first and Lebanon an annual inflation of 150% ranking second.

Prof. Hanke said in a tweet that Sri Lanka needs to establish a currency board as it had from 1884 until 1950 to crush inflation and save the value of the Rupee.

However, certain economic analysts in Sri Lanka disagree with the statistics revealed in the Hanke’s Inflation Dashboard, questioning its parameters.

MIAP

In this week's inflation table, #SriLanka is in the spotlight again. On April 21, I measured LKA's #inflation at a SKY-HIGH 119%/yr. To crush inflation & save the rupee, Sri Lanka needs to install a #CurrencyBoard, like the one it had from 1884 until 1950. pic.twitter.com/rM5LlceEmL

— Steve Hanke (@steve_hanke) April 25, 2022