Sudan’s inflation rate meets IMF projections

January 12, 2016 (KHARTOUM) – The Central Bureau of Statistics in Sudan announced that the monthly inflation rate has slightly dropped to reach 12, 58% in December compared to 12, 8% recorded the month before.

Sudan’s economy was hit hard since the southern part of the country declared independence in July 2011, taking with it about 75% of the country’s oil output.

The Sudanese pound has lost 100% of its value since South Sudan’s secession, pushing inflation rates to record levels given that country imports most of its food.

The East African nation which became a net importer of oil after the partition is benefiting from the sharp drop in crude prices worldwide weak demand and rise in supplies.

Ordinary citizens however continue to complain from cost of living increases that impaired their access to basic commodities.

Last month, the Sudanese government expected that growth rate would increase this year and imports would decrease due to the falling crude prices.

(ST)