finance & economy

Sudan’s inflation soars above 200% in September

October 15, 2020

(KHARTOUM) - Sudan’s annual inflation rate soared to 212.29% in September amid an economic meltdown, the central statistics office said on Tuesday.

The stifling economic crisis in Sudan has been recently exacerbated by repeated bread and fuel shortages.

For its part, the transitional government has failed to alleviate the crisis situation due to the lack of foreign exchange reserves and U.S. sanctions that prevent Sudan’s debt relief and borrowing from international financial institutions.

'The annual inflation rate rose to 212.29% for last September, compared to 166.83% in August,' said the Central Bureau of Statistics (CBS) in a statement released on Thursday.

The statement pointed out that the annual inflation rate increased by 45.46% in September. The CBS attributed this huge increase to the high prices of some food items and beverages such as bread, grains, oils, fats, meat and legumes.

The agency, also, underscored the increase in housing rental prices, along with the increasing cost of transportation and health care.

The inflation rate in urban areas has reached 176.29% in September, compared to 151.20% in August. While the rate in rural areas rose to 241.59% in September compared to 178.86% in August.

Last month, the transitional government held an economic conference to adopt an economic plan to get the country out of this chronic crisis.

Also, the World Bank approved $400 million grants half of it is dedicated to finance a programme to support vulnerable families during the tough economic reforms.

However, some Sudanese economists point to the high rate of continued inflation and the small amount of money the government plans to give to the affected families.

sudantribune



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