Home | News    Saturday 17 March 2018

Sudan’s inflation rises to 54,34% in February: CBoS

separation
increase
decrease
separation
separation

March 16, 2018 (KHARTOUM) - Sudan’s inflation rate has risen to 54,34% in February compared to 52,37% in January, reported the Central Bureau of Statistics (CBoS)

JPEG - 26.3 kb
A vendor sells vegetables during Ramadan at a local market in north Khartoum August 3, 2012 (REUTERS/Mohamed Nureldin Abdallah)

In its monthly bulletin issued on Thursday, the CBoS said the largest contribution to the overall price rise came from the food and beverage group which has risen by 52,86%

It pointed out to varying increase in prices of commodity sub-groups including meat, bread and grains, oil, tea and coffee, milk, cheese, eggs and sugar.

In January, the director of the Troubled Currencies Programme at Johns Hopkins University Steve Hanke said Sudan’s inflation has skyrocketed to a record high of 122% pointing the East African country “now has the second highest inflation rate in the world after Venezuela”.

Last month, the Sudanese pound plummeted to record lows on the black market this year. The U.S. dollar was sold for a high 42 pounds in early February.

However, the government introduced a number of measures to curb the rise in the dollar price including limiting cash withdrawal from banks to absorb liquidity, cracking down on black market Forex traders and restricting imports.

The government measures managed to pull back the dollar price to 32,00 pounds however economists expect a new rise in its price once these restrictions were lifted.

Following the promulgation of the 2018 budget which included a number of austerity measures, peaceful protests erupted in a number of Sudanese states leading to the killing of a high school student in West Darfur State and detention of dozens of opposition activists across the country.

Economists attribute the deteriorating living condition and economic meltdown to corruption, lack of production policies, and lack of economic reform vision following the secession of South Sudan.

They also point to the need to end the war and direct all the national revenue for infrastructure and economic development.

Sudan lost 75% of its oil reserves after the southern part of the country became an independent nation in July 2011, denying the north billions of dollars in revenues. Oil revenue constituted more than half of Sudan’s revenue and 90% of its exports.

(ST)

Comments on the Sudan Tribune website must abide by the following rules. Contravention of these rules will lead to the user losing their Sudan Tribune account with immediate effect.

- No inciting violence
- No inappropriate or offensive language
- No racism, tribalism or sectarianism
- No inappropriate or derogatory remarks
- No deviation from the topic of the article
- No advertising, spamming or links
- No incomprehensible comments

Due to the unprecedented amount of racist and offensive language on the site, Sudan Tribune tries to vet all comments on the site.

There is now also a limit of 400 words per comment. If you want to express yourself in more detail than this allows, please e-mail your comment as an article to comment@sudantribune.com

Kind regards,

The Sudan Tribune editorial team.
  • 18 March 13:12, by ringbell

    there is no way that the price of hard currency go back 32 but it continuously make 150 per dollar within few months. this is my wish

    repondre message

Comment on this article



The following ads are provided by Google. SudanTribune has no authority on it.



Sudan Tribune

Promote your Page too

Latest Comments & Analysis


The influence of facetious leaders in South Sudan 2018-12-03 18:44:28 By Daniel Abushery Daniel It's like that old saying, "Everybody's talking about the weather, but nobody ever does anything about it:" Public consultation is essential and healthy where there are (...)

Will Khartoum peace agreement bring reform or maintain tyranny? 2018-12-01 05:41:01 By Duop Chak Wuol Known for operating with a vicious precision, his trademark is ruthlessness, and how he manoeuvres his political rivals is irrefutably effective. Salva Kiir, the man in (...)

US-Sudanese relations: moths to the fire 2018-11-25 11:07:23 By Muhammad Osman & Magdi el Gizouli The rapprochement between Sudan and the U.S. progresses with the pace of an anxious flirtation. Less than two years since it began in 2015, that (...)


MORE






Latest Press Releases


Progress observed at end of second month of R-ARCSS implementation 2018-10-22 06:44:02 Press Release 21 October 2018 South Sudanese government released 24 detainees in the implementation of the revitalized peace agreement said the International Committee of the Red Cross (ICRC) (...)

4th Annual Tony Elumelu Foundation Entrepreneurship Forum Announced for 25th October 2018 2018-10-15 12:38:14 PRESS RELEASE OCTOBER 14, 2018 Africa’s leading entrepreneurship-focused philanthropic organisation, the Tony Elumelu Foundation (TEF), has announced October 25, 2018, as the date for its (...)

Unity State community in Kenya supports Khartoum peace agreement 2018-08-17 08:33:21 PRESS STATMENT 14th Aug, 2018 Re: We shall Rally behind Khartoum Peace Agreement The Unity State Community Association in Kenya was established in 2010 to organize and mobilize the people of (...)


MORE

Copyright © 2003-2018 SudanTribune - All rights reserved.