Factcheck.lk interpreted the MP, in context, as comparing Sri Lanka with South Asia. However, when evaluating this claim, FactCheck.lk consulted the websites of the Central Banks and Statistics agencies of all Asian countries.
Exhibit 1 lists South Asian countries with the highest rates of inflation for the year 2021. The cumulative inflation through the course of the year 2021 is the year-on-year, point-to-point percentage increase, in the National Consumer Price Index of the respective countries, at the end of December. This is 14% for Sri Lanka, which is the highest rate of inflation among South Asian countries, and also the highest among all other Asian countries, excluding the Middle East.
Therefore, we classify the MP’s statement as TRUE.
NB: Sri Lanka’s Department of Statistics also publishes the Colombo Consumer Price Index, which recorded the cumulative inflation for 2021 as 12.1%.
*FactCheck.lk’s verdict is based on the most recent information that is publicly accessible. As with every fact check, if new information becomes available, FactCheck.lk will revisit the assessment.
Sri Lanka , Inflation and Prices, Department of Census and Statistics, available at: http://www.statistics.gov.lk/InflationAndPrices/StaticalInformation/MonthlyNCPI/MovementsOf-NCPI
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Nepal , Current Macroeconomic and Financial Situation of Nepal, Nepal Rastra Bank, available at: https://www.nrb.org.np/contents/uploads/2022/02/Current-Macroeconomic-and-Financial-Situation-English-Based-on-Six-Months-data-of-2021.22.pdf
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Uzbekistan , Year-on-year, month-on-month and cumulative inflation, Central Bank of the Republic of Uzbekistan, available at: https://cbu.uz/en/monetary-policy/annual-inflation/indicators/
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Tajikistan , Monthly Inflation Review, Central Bank of Tajikistan, available at: https://www.nbt.tj/en/macroeconomic/tavarrumi-solona-iyun-2017.php