7 August 2014

Sudan: July's Inflation Rate in Sudan Increases to 46.8 Percent

Khartoum — Sudan's monthly inflation rate edged upwards in the month of July to 46.8% from 45.3% in June amid sharp increases in prices of goods and services.

Double-digit inflation has been one of the most visible features of the Sudanese economy in recent years which suffered a shock after the secession of South Sudan which contained three quarters of oil reserves.

To makes matters worse, the government phased out subsidies twice in 2012 and 2013 on petroleum and food products triggering demonstrations that were swiftly quelled.

The Sudanese pound lost more than half its value thus making imports more expensive. The East African nation imports most of its food from abroad.

The International Monetary Fund (IMF) said in a report last month that it expects inflation in 2014 to drop sharply to 18% from 41.9% in 2013.

The markets witnessed a wave of price increases over the past month and consumers complained of a steady rise in the prices of basic commodities in conjunction with the approach of the Muslim fasting month of Ramadan.

Ads by Google

Copyright © 2014 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.