Sudan’s inflation rate hits 14 percent

Sudanese pounds

Sudan’s annual inflation rate rose to 13.98 percent in May from 12.85 percent in April, on the back of a sharp rise in the prices of food and beverages, Sudan’s Central Statistics Office said on Sunday.

Prices soared in Sudan after 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 and to pay for food and other imports.

In December, the Sudanese pound fell to 11.6 pounds to the dollar, its lowest rate on the parallel market since 2011, currency traders said, as the official banking system struggled to supply the dollars needed to buy imports.

 

Reuters/UO