Sudan’s Inflation Rise to 44% in February: CBoS
A vendor sells vegetables during Ramadan at a local market in north Khartoum August 3, 2012 (REUTERS/Mohamed Nureldin Abdallah)
March 2019, (KHARTOUM) - Sudan’s inflation rate has risen to 44,29% in February compared to 43,455 in January, reported the Central Bureau of Statistics (CBoS).
According to the CBoS, the inflation rate in urban areas has reached 41,63% while in rural areas it has registered 46,19%.
Several economists have doubted the credibility of the CBoS inflation reports as the bureau last January said inflation has abruptly dropped to 43,45% from 72,9% in December 2018.
Commenting on the CBoS inflation rate in January, Steve Hanke, an economist at Johns Hopkins University who follows currencies under stress, told Reuters “this is pure propaganda”
He pointed out that according to his measurement on 8 February the annual inflation rate in Sudan was 85% a year.
Economic conditions in Sudan have been challenging since the secession of South Sudan in 2011 and the loss of the bulk of oil production and exports.
The withdrawal of South Sudan oil has compounded the difficult external environment, including debt arrears, limited access to external financing, U.S. sanctions, and the withdrawal of correspondent bank relations.
Also, the Sudanese pound plummeted to record lows on the black market. The price of the U.S. dollar has reached 72,00 pounds.
Since 19 December, anti-government protests have rocked several cities and towns in the East African nation.
The protests started over the rising costs of bread and fuel, but have since widened to call for the overthrow of longtime President Omer al-Bashir.
(ST)
March 2019, (KHARTOUM) - Sudan’s inflation rate has risen to 44,29% in February compared to 43,455 in January, reported the Central Bureau of Statistics (CBoS).
According to the CBoS, the inflation rate in urban areas has reached 41,63% while in rural areas it has registered 46,19%.
Several economists have doubted the credibility of the CBoS inflation reports as the bureau last January said inflation has abruptly dropped to 43,45% from 72,9% in December 2018.
Commenting on the CBoS inflation rate in January, Steve Hanke, an economist at Johns Hopkins University who follows currencies under stress, told Reuters “this is pure propaganda”
He pointed out that according to his measurement on 8 February the annual inflation rate in Sudan was 85% a year.
Economic conditions in Sudan have been challenging since the secession of South Sudan in 2011 and the loss of the bulk of oil production and exports.
The withdrawal of South Sudan oil has compounded the difficult external environment, including debt arrears, limited access to external financing, U.S. sanctions, and the withdrawal of correspondent bank relations.
Also, the Sudanese pound plummeted to record lows on the black market. The price of the U.S. dollar has reached 72,00 pounds.
Since 19 December, anti-government protests have rocked several cities and towns in the East African nation.
The protests started over the rising costs of bread and fuel, but have since widened to call for the overthrow of longtime President Omer al-Bashir.
(ST)
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