Sudan inflation rate declines to 24% in January

February 10, 2015 (KHARTOUM) – Sudan’s Central Bureau of Statistics (CBoS) reported on Tuesday that the monthly inflation rate has dropped to 24% in January from 25.7% in December.

Commodity prices rose sharply and the Sudanese pound lost more than half of its value since the oil-rich south seceded in July 2011, pushing inflation rates to record levels given that the East African nation imports most of its food.

High inflation also reflected the government decision in late September 2013 to lift fuel subsidies which caused prices of gasoline and diesel to increase by almost 100%.

More than 200 people were killed in the protests that erupted across Sudan following government decision to scale back fuel subsidies.

However, inflation started to decline since last November when it reached 25.6% compared to 46.8% in July.

The International Monetary Fund (IMF) expected inflation rate in Sudan to drop to 29% by the end of 2014 from 47% in July as the one-off effects of the September 2013 fuel price increases dissipate.

Sudan’s 2015 budget aimed at bringing inflation rate down to 25%.

(ST)