The Central Bank of Sri Lanka (CBSL) has revealed that the country’s cost of living has doubled since 2021, despite a minimal increase between 2023 and 2024.

Speaking at a press conference, CBSL Assistant Governor Chandranath Amarasekara said that although inflation has declined, the current cost of living remains significantly elevated compared to 3 years ago.

He stressed the need for strong economic growth to restore real incomes and ease financial pressures on the public, noting that occasional salary hikes have not kept pace with productivity.

Amarasekara emphasised that aligning wage increases with productivity is crucial for long-term, sustainable development.