Sudan inflation rate jumps to 12.4% in September
October 9, 2009 (KHARTOUM) – Sudan’s inflation rate grew to 12.4 percent in September from 10.4 percent in August due to higher food price growth, the Sudanese central statistics bureau said today.
The cumulative growth in the consumer price index (CPI) stood at 10.4 percent up from up from 10 percent during the same time period in 2008.
The statistics bureau said that September coincided with the Muslim Holy month of Ramadan which increased demand for food products.
Last July the International Monetary Fund (IMF) said in a report that inflation trends mirrored developments in world food prices.
The financial world body projected a decline in inflation rate to 9 percent “reflecting lower world food prices and tighter financial policies”.
Sudan witnessed a sharp drop in oil revenue due to the global recession which contributed to decline in foreign currency needed to finance imports including food items.
The government has increased certain taxes to make up for the shortfall in oil exports which some exports warned would further reduce purchasing power of ordinary citizens leading to decline in domestic demand.
(ST)
Joseph Lago
Sudan inflation rate jumps to 12.4% in September
this inflation rates rise idicates how weak the sudan economic is controlled by Supremacy Islamic criminal machnism. such inflation rate rise could trigger downfall in GDP, home buyers could loose their houses as a result of increase of interest and groceries rate rise.
sudan have very poor economic control compare to other african counties. economic solution will come when sudan become full transparent in all key sections of governing. i doubt, that is not the actual inflation rate, the real inflation could be above 17%-20%.