Sudan’s inflation rate hits new record 57.6%
Sudan’s inflation rate hit a record 57.6 per cent in April, compared with 55.6 per cent in March. The inflation has a worsening effect on wages, unemployment, poverty and food and health conditions, as prices for basic goods in Sudan continue to rise.
Economic expert Dr Sidgi Kaballo considered the inflation rate in April as “the highest in years”. He attributed the rise to the increased borrowing from the banking system and excessive cash mass compared to the economic growth of Sudan.
The Central Statistics Bureau of Sudan published the inflation numbers in a report released on Wenesday.
According to Kaballo the inflation of prices within the group of food and beverages (to 55.74 per cent) has contributed the most to the general inflation rate of 57.6 per cent.
Red Sea State has recorded the highest inflation rate (33.02 per cent) and El Gezira state has recorded the lowest rate with 20.6 per cent.
Kaballo: “The high inflation rate has led to the lowering wages, a rising poverty rate, worsening food and health conditions, and high rates of unemployment.”
Traders in Khartoum also complained from the negative impact of the inflation, Sudan Tribune reported. They reported a net loss of clients and have grown fearful of a recession period.
Sudan has witnessed a fuel shortage crisis, which negatively impacts economic and public transport. The Sudanese government’s decision to remove certain subsidies in the beginning of 2018, in compliance with its new annual budget, has brough about large price increases.
In January and February this year, Sudanese took to the streets across Sudan in protest against the soaring prices of food and medicines, and a shortage of clean drinking water. Police used tear gas and force to disperse the protests.
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