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Inflation Rate in Sudan exceeding the 363% Barrier

Inflation in Sudan recorded a new jump, with the inflation rate exceeding the 363% barrier. 

 

Khartoum: Altaghyeer 

The inflation rate in Sudan for the month of April rose to about 363.14%, an increase of 21.36 points over the month of March 2021, thus exceeding the 363% barrier.

Last February, the Finance Ministry warned of the inflationary effects of an economic reform package, which included a partial floating of the local currency.

A memo issued by the Central Bureau of Statistics on inflation for the month of April indicated that the inflation rate for the food and beverage group was stable at 253.18%, compared to 253.05% last March.

The basic rate without the food and beverages group recorded an increase of 526.88% in April compared to 469.83% for the same period.

The memo indicated that the inflation rate of imported goods in the consumer basket recorded a decrease.

This was attributed to the decrease in some imported fruits prices, which recorded 234.48% for the month of April compared to 243.08% for the month of March.

Inflation Crisis in Light of Paris

The inflation rate for urban areas recorded 332.89% for the month of April, compared to a rate of 314.68% for the month of March, while the inflation rate for rural areas recorded 387.93% compared to a rate of 362.78% for the same period.

The transitional government hopes that the Paris conference will contribute to reducing inflation rates and stabilizing the exchange rate of foreign currencies against the pound.

On May 17-18, the French capital will host a conference to support the democratic transformation in Sudan.

The Paris Club has managed to write off about 70% of the debts owed by Sudan.

It is expected that many foreign investments will arrive in the country during the coming period, which will supply the public treasury with more foreign currencies.

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