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Rising food and fuel prices are making daily life tougher for many ordinary people in Sri Lanka.
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The rising cost of living in Sri Lanka is laid bare in this BBC article, which highlights how people have shifted away from cooking on gas stoves to cooking on firewood, have altered their diets and have reduced the number of daily meals they have, all of which have adverse developmental effects.
From a macroeconomic perspective, the government have stepped in to control the price of essential imports and preserve scarce foreign exchange reserves. The country is also facing higher debt financing requirements but it isn't the only South Asian nation in this position.
Again, another article that reveals the importance of macroeconomic stability for development.