Prices of staples soar in Sri Lanka as economic crisis deepens

The prices of basic essentials in Sri Lanka skyrocketed following the high inflation in the country. 

Sri Lankans are queuing up for hours to buy basic goods as the crisis-hit island nation is in the throes of an unprecedented economic meltdown, reports India Today. 

Many are forced to leave markets empty-handed as either the shops run out of goods or they run out of money. 

The prices of vegetables have doubled in recent weeks, whereas staples such as wheat and rice are being sold for Rs220 per kg and Rs190 per kg, respectively. 

Per kg of sugar costs Rs240, while coconut oil is being sold for Rs850 per litre. A single egg is priced at Rs30. One kilogram packet of milk powder costs Rs1900. 

The island nation's retail inflation already touched 17.5% in February and food inflation has soared to over 25%, leading to highly inflated cereal and food prices.

There is also an acute shortage of medicines and milk powder. 

Owing to the economic crisis in the country, public anger has been mounting against the government with protests erupting in several parts of Sri Lanka, including the capital Colombo.

They have blamed the Rajapaksa regime for the scarcity of essential goods and long power outages. 

Sri Lanka's economic crisis has heightened into a political crisis after all 26 ministers of the cabinet quit en masse on Sunday (3 April) night as the South Asian nation sees growing public anger.

In a bid to subdue the widespread unrest across the country, President Gotabaya Rajapaksa has declared a state of emergency, followed by a 36-hour-long curfew in the wake of calls for mass anti-regime protests.