Sri Lanka bakery forced to cut staff after country’s latest electricity price hike

The latest 66 per cent electricity price increase announced on February 16, 2023, has pushed Sri Lankan bakery owners to the edge. Sanjula Peiris, the owner of a small family-owned bakery chain in the country’s capital Colombo, had to lay off staff and shrink their scales to lower operating costs. Analysts said the surge in power prices is likely to trigger further inflation in the crisis-stricken nation.