Former UNP Deputy Leader and MP Ravi Karunanayake has said that Sri Lanka’s current price pressures are mainly caused by supply disruptions rather than increased consumer demand.
He pointed out that fuel prices have risen by 47% amid unrest in the Middle East, increasing transportation and production costs across the economy. He said rising food prices and housing rents have also intensified pressure on the daily lives of the public.
Karunanayake further argued that the situation is a structural economic problem that cannot be addressed by raising loan interest rates alone.
