<div style="text-align: justify; "><span style="font-size: 1rem;">Inflation in crisis-hit Sri Lanka eased to 4.0 percent in August, the lowest since before last year's unprecedented financial crisis, official figures showed Friday.</span><br></div><div style="text-align: justify;"><br></div><div style="text-align: justify;">The island nation endured months of food, fuel and medicine shortages after a foreign exchange crunch that sparked widespread protests culminating in the ouster of its president.</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">But the crisis has since eased, with headline inflation down from 6.3 percent in July and 69.8 percent at its peak last September.</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">Sri Lanka's central bank has said it expects the figure to continue its downward trend in the medium-term.</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">The country defaulted on its $46 billion foreign debt last year but secured a four-year, $2.9 billion bailout from the International Monetary Fund in March.</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">An IMF team is due in Colombo this month to review Sri Lanka's progress in repairing its ruined finances and to decide on releasing another $330 million loan tranche.</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">The international lender of last resort has said Sri Lanka's economy showed "tentative signs of improvement" but warned Colombo still needed to pursue further painful reforms.</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">Last year's economic crisis sparked months of civil unrest that eventually toppled then-president Gotabaya Rajapaksa after a mob of protesters stormed his compound.</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">His successor Ranil Wickremesinghe has doubled taxes, removed generous subsidies on energy and sharply raised prices to shore up state revenue.</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">In the latest such move, the government raised petrol and diesel fuel prices by up to 11.2 percent with effect from Friday. Inflation in crisis-hit Sri Lanka eased to 4.0 percent in August, the lowest since before last year's unprecedented financial crisis, official figures showed Friday.</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">The island nation endured months of food, fuel and medicine shortages after a foreign exchange crunch that sparked widespread protests culminating in the ouster of its president.</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">But the crisis has since eased, with headline inflation down from 6.3 percent in July and 69.8 percent at its peak last September.</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">Sri Lanka's central bank has said it expects the figure to continue its downward trend in the medium-term.</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">The country defaulted on its $46 billion foreign debt last year but secured a four-year, $2.9 billion bailout from the International Monetary Fund in March.</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">An IMF team is due in Colombo this month to review Sri Lanka's progress in repairing its ruined finances and to decide on releasing another $330 million loan tranche.</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">The international lender of last resort has said Sri Lanka's economy showed "tentative signs of improvement" but warned Colombo still needed to pursue further painful reforms.</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">Last year's economic crisis sparked months of civil unrest that eventually toppled then-president Gotabaya Rajapaksa after a mob of protesters stormed his compound.</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">His successor Ranil Wickremesinghe has doubled taxes, removed generous subsidies on energy and sharply raised prices to shore up state revenue.</div><div style="text-align: justify;"><br></div><div style="text-align: justify;">In the latest such move, the government raised petrol and diesel fuel prices by up to 11.2 percent with effect from Friday. AFP</div><div style="text-align: justify;"><br></div><div style="text-align: justify; ">bnbd24/kh</div>