South Sudan: Annual Inflation Drops to 41 Percent

Juba — South Sudan's annual inflation for November stood at just 41%, while its Consumer Price Index (CPI) increased by 19%, the National Bureau of Statistics (NBS) said.

However, while annual inflation in Juba, the South Sudan capital was 44.6%, that in Malakal (Upper Nile state) and Wau (Western Bahr el Ghazal) reportedly remained at 53.5% and 5.9% respectively.

Between October and November, the CPI, according to NBS increased by 13.8% in Malakal, 4.7% in Wau and by 18.2% in Juba, while prices of food and non-alcoholic beverages reportedly increased in Juba, Wau and Malakal by 32.5%, 12.6% and 1.5% respectively.

"The CPI increase was mainly driven by higher food prices," party reads a release from the statistical body.

The increases in price of food and non-alcoholic beverages, the statement adds, was mainly driven by increases in fruits whose prices reportedly increase by 191.4%.

"The high increase was caused by reintroduction of seasonal products in the market," it says.

Inflation in South Sudan, whose economy heavily relies on oil revenues, surged to nearly 80% in May this year, with analyst attributing the rise to fuel scarcity, shortage of hard currency and the north-south border closure.

South Sudan used to produce up to 350,000 barrels of oil per day, but a dispute over transit fees for its crude oil with Khartoum prompted the young nation shut down its oil production in January.

Oil revenues account for nearly 98% of South Sudan annual budget.

Ads by Google

Copyright © 2012 Sudan Tribune. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.