The inflation rate in Sudan recorded a new jump during the month of June, this time exceeding the 400% barrier.
The inflation rate in Sudan for the month of June rose to about 412.75%, going up by 33.96 points from last May.
The Ministry of Finance had issued a warning last February regarding the inflationary effects of the economic reform package, which included a partial flotation of local currency.
A note issued by the Central Bureau of Statistics for the month of June on Sunday showed a jump in the inflation rate for the Food and Beverage group to 247.97% compared to last May’s 241.83%.
The basic rate, without the F&B group, recorded an increase reaching 643.87%, compared to 597.87% for the same period.
The annual inflation rate in urban areas went from 337.76% to 365.65%, while rural areas went from 412.40% to 450.93%.
The inflation rate of consumer and service goods prices for the month of June 2021 went up in eleven Sudanese states.
The state of Gedaref recorded the highest increase in the annual inflation rate by 1141.03%, while the Nile River state recorded the lowest rate with 213.82%.
A few days ago, members of the Paris Club decided to forgive 14.1 billion dollars of what Sudan owes them, which totals more than 23.5 billion dollars.
The step is part of a series of comprehensive treatments to Sudan’s debt after having entered the HIPC’s decision point.
It is expected that many foreign investments will arrive in the country during the coming period, providing the public treasury with more foreign currency.
The Minister of Investment and International Cooperation, al-Hadi Mohamed Ibrahim, had earlier announced that he expects prices to stabilize in Sudan by this year’s December.