Home | News    Monday 18 June 2018

Conflicting reports about Sudan’s inflation rate

separation
increase
decrease
separation
separation

Sudanese women shop at a clothing and textile market in Khartoum in March 2013 - (Ilya Varlamov Photo)

June 17, 2018 (KHARTOUM) - Sudan’s inflation rate has risen to 60,93% in May compared to 57,65 in April, reported the Central Bureau of Statistics (CBoS)

However, the director of the Troubled Currencies Programme at Johns Hopkins University Steve Hanke said Sudan’s annual inflation rate measured for 6/13/18, is 111%.

The government seeks to achieve an average inflation rate of 19,5% by the end of the 2018 fiscal year compared to 34,1% in 2017.

Earlier this year, the Sudanese pound plummeted to record lows on the black market. 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 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 39,00 pounds however economists expect a new rise in its price once these restrictions were lifted.

The most recent International Monetary Fund (IMF) report indicated that Sudan’s gross international reserves remained very low in 2017 ($1.1 billion, 1¾ months of imports).

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.

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.

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

(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.

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


Sudan’s Constitutional Declaration was reduced to absurdity 2019-08-13 20:31:25 By Mahmoud A. Suleiman After paying tributes to the martyrs and hoping healing for wounded and offer sincere greetings to the rebellious Sudanese people who are inevitably victorious, having (...)

Options and opportunities for SPLM-N al-Hilu to join Sudan’s transition 2019-08-13 20:06:06 By Ibrahim B. Musa Despite the initial signing of the political on July, 17th, 2019 and constitutional declaration on August 4th, 2019, as well as the previous exhausting efforts made in (...)

Can Sudan achieve peace and democratic transition? 2019-08-13 07:37:28 By Rosalind Marsden Sudan has a unique opportunity to embrace democratic transition but there is no room for complacency. Comprehensive reforms and a united democratic front will be key to (...)


MORE






Latest Press Releases


Sudanese lawyers and Human rights defenders back calls for civil rule 2019-04-26 10:22:06 Press statement by 55 Sudanese lawyers and Human rights defenders on Sudan Sit-in and Peaceful Protest Khartoum -24/04/2019 We, the undersigned (55) Sudanese lawyers and human rights defenders, (...)

South Sudan’s Lafon youth condemn killings of civilians by Pari community 2019-04-03 21:54:29 Press Statement on the Fighting between Pari/ Pacidi and Lotuko/Lokiri on 24/3/2019 Release by The Lafon County Youth Union: We, the Lafon County Youth Union hereby condemn the atrocities and (...)

Joseph Malwal Dong joined the SPLM/A -IO 2019-04-02 08:35:02 SPLM/A (IO) Press Release 1/4/2019 On Hon. Joseph Malwal Dong Joined the SPLM/A (IO) The leadership of the SPLM/A (IO) would like to seize this precious opportunity to announce to members and (...)


MORE

Copyright © 2003-2019 SudanTribune - All rights reserved.