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Sudan Inflation Rises to 33.5%

Sudan Inflation Rises to 33.5%Sudan Inflation Rises to 33.5%

Sudan’s annual rate of inflation rose to 33.53% in February from 32.86% the previous month, as food and energy prices kept rising after subsidies were cut in early November, the Central Statistics Office said on Sunday, Reuters reported. Sudan’s economy has deteriorated since the south seceded in 2011, taking with it three-quarters of the country’s oil output, its main source of foreign currency and government income. With revenue dwindling, the government announced cuts to fuel and electricity subsidies in early November. That saw petrol prices rise about 30%, pushing up transport costs and feeding through to inflation. A dollar shortage and a ballooning black market for hard currency have also made foreign-made goods more expensive in a country that depends heavily on imports. Meanwhile, the Sudanese government said recently that the measures imposed by the United States against this country since 1997 had affected its economy and caused the loss of $45 billion, the local website Ashorooq Net reported. The sanctions were canceled by former president Barack Obama in January, seven days before finishing his term of office.

 

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