Former UNP Deputy Leader and MP Ravi Karunanayake has warned that Sri Lanka’s inflation has exceeded the Central Bank’s target, raising concerns about the impact on the economy.
He said that despite months of tight monetary policy, inflation measured by the Colombo Consumer Price Index rose to 7.3% in July 2026. Karunanayake argued that the latest figures expose limitations in the government’s continued reliance on the IMF-backed inflation-targeting framework.
He further claimed that the current methodology has failed to properly identify the underlying causes behind rising prices of goods and services.
