Rocketing inflation sends livestock prices to record highs One cow can cost up to $800 this Eid season COLOMBO: Muslims across Sri Lanka are struggling to afford sacrificial animals ahead of Eid Al-Adha, as skyrocketing inflation has sent livestock prices to record highs. Millions of Muslims across the globe are celebrating this week Eid Al-Adha, a holiday also known as the “Feast of Sacrifice,” which commemorates the Prophet Ibrahim’s test of faith when he was commanded by God to sacrifice his son. Meat from animals slaughtered for Eid is shared with relatives and the poor, and eaten during family celebrations. Among Sri Lanka’s 2.2 million Muslim minority, few will be able to afford the feasts this season, as the country remains in the grip of its worst financial crisis in decades. “Price of a cow ranges from 180,000 (Sri Lankan rupees) to 240,000 ($800). Last year it was only 80,000 to 120,000,” Mohammed Kabeer from Colombo Meat Dealers Group told Arab News on Tuesday. In 2022, Sri Lanka defaulted on foreign debt repayments. Although the country’s inflation rate eased to about 25 percent in May after reaching a record high of around 70 percent last September, the economic situation remains challenging for many people. “The inflation has affected business a long way. Last year, people were full of enthusiasm and this year only those who are very rich came to book their cows for the slaughter,” Kabeer said. “Purchases have dropped, and the recipients of this meat will be greatly reduced this year. It will be a great disappointment for the poor folks.” Mohammed Junaid Mohammed Rizvi, a car dealer based in Colombo, is among those feeling the pinch. “This year, I found it difficult to buy a cow because of the high price,” he said. “Prices have doubled.”