According to Professor Steve Hankey, Sri Lanka has the second highest annual inflation rate in the world.

Steve Hankey, a professor at Johns Hopkins University in the United States, made the remarks while updating the Hankey Inflation Index.

According to the report, only Zimbabwe shows higher inflation than Sri Lanka. Turkey is in third place below Sri Lanka.

In this week’s inflation table,#SriLanka is once again in the spotlight. On May 12th, I measured LKA’s inflation at a stunning 132%/yr. To crush inflation, Sri Lanka needs to mothball its Central Bank and install a #CurrencyBoard, like the one it had from 1884 until 1950. pic.twitter.com/3WTBnHUYLC

— Steve Hanke (@steve_hanke) May 14, 2022