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 Colombo: The inflation rate in Sri Lanka has reached the highest level in the country's history with an increase of 70 percent.

According to the international media, according to the data released by the Consumer Price Index, the inflation rate in Sri Lanka was 70.2% during August.

According to the index, the prices of food items increased by 84.6% while the prices of non-food items increased by 57.1% during August.

Experts say that the country's economy is facing economic instability due to wrong policies, the country's economy is going through the worst situation due to the non-availability of dollars.

The post-coronavirus economic slowdown has affected Sri Lanka's imports of basic food items, including petroleum products, pharmaceuticals and the manufacturing sector.

Experts have expressed hope that the Sri Lankan economy will be supported if the International Monetary Fund approves the loan, which is expected to moderate the soaring inflation over the next few months.