Is Inflation in Sri Lanka always and Everywhere a Monetary Phenomenon?

This study addresses the issue as monetarist’s claim that inflation is always and everywhere a monetary phenomenon. Using annual data obtained from report of central bank Sri Lanka over period 1977-2019, we tested relationship between real GDP, broad money supply, velocity nominal wages government sector using ARDL technique. Results clearly indicates there long-run short-run other independent variables. Secondly, estimated results further supply strongly linked in both so much suggesting policy tools may be effective controlling Lanka. has number implications for makers been continuously based its strategy on premise strong relationship. In words, Milton Friedman put forward “inflation phenomenon”.