Sudanese economists warn for rise of commodity prices
Sudanese economists have warned for a considerable rise in food prices during the coming months.
The climbing inflation rate during the past two months is an indication that prices of basic commodities will continue to rise considerably the coming period, various Sudanese newspapers reported on Monday.
The economists attributed the inflation to the decreasing value of the Sudanese pound against the American dollar and other foreign currencies. More than five years ago, foreign currency reserves at the Central Bank of Sudan, needed to import foodstuffs and medicines, began declining sharply. The black market rate of the American dollar and the euro skyrocketed accordingly.
According to the experts, the market prices are difficult to control, especially because the fasting month of Ramadan will begin mid June, which significantly boosts the demand for sugar, flour, and vegetable oils.
Back to overview