Sudan’s inflation rises for thirteenth consecutive month
June 13, 2017 (KHARTOUM) – Sudan’s Central Bureau of Statistics (CBoS) on Monday reported that inflation has increased to 35,52 % in May from 34,81 in April.
The CBoS added that the food and beverage group contributed to the overall price rise by % 59.40, while the other 11 goods and service groups contributed % 40.59, saying the general price index in the rural areas has increased by 39,18 points.
Last month, Sudan’s finance minister said inflation rate has jumped to 33,7% in the first quarter of 2017, compared to 12.3% for the same period last year, an increase of more than 260%.
He attributed the increase in inflation rate to the impact of the fiscal policy reforms implemented by the government at the end of last year.
In November 2016, Sudanese government lifted fuel subsidies and increased electricity price in a bid to control a surge in inflation and stop the fall of Sudanese pound in the black market.
According to the 2017 budget, the growth rate would decline from 6,4% in 2016 to 5,3% and the targeted average inflation rate is 17%.
Prices and services have soared in Sudan since South Sudan seceded in 2011, taking with it three-quarters of the country’s oil output, the main source of foreign currency used to support the Sudanese pound.
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.
Ordinary citizens continue to complain from cost of living increases that impaired their access to basic commodities.
(ST)