EconomyLender upgraded Colombo's classification in July but residents feel little has improvedLow-price and discount boards are displayed at supermarkets in Colombo, as consumers face rising living costs and higher food prices. (Photo by Munza Mushtaq)November 15, 2026 12:44 JSTCOLOMBO -- International travelers looking up Sri Lanka before arriving in the island nation might be surprised to find that the country is in the World Bank's upper-middle-income category, placing it on par with some economies in Europe and Southeast Asia. The reality, however, is far from that classification, as millions of Sri Lankans wrestle with diminished purchasing power and rising living costs.