Sudan's inflation rises slightly in September

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October 10, 2019 (KHARTOUM) – Sudan’s inflation rate for September slightly increased to 53.35% in urban areas compared to 53.13 in August 2019, the official statistics agency said on Thursday.

The Central Bureau of Statistics attributed the reasons for this slight increase to the stability of prices of food and beverage and the decline in meat prices during the last month.

The statement pointed out that the rate of inflation in urban areas during September reached 51.3%, compared to 50.39% last August.

For its part, the rate of inflation in rural areas reached 54.98%, according to the agency.

Inflation measured by consumer price index (CPI) which is defined as the change in the prices of a basket of goods and services that are purchased by specific groups of households.

In a related development, the US dollar remained stable against the Sudanese pound as the USD buying rate remained at 70 and the selling rate at 71 pounds.

Traders and retail clients consumers are reluctant to sell foreign currencies expecting an increase in the exchange rate in the coming days, especially as the government failed to get foreign financial assistance so far and nothing on the horizon as well.

Ahmed Al-Hadi, a dealer told Sudan Tribune that the sale of foreign currencies is currently very weak and confined to students travelling abroad or families that support their sons and girls studying in foreign universities, in addition to some employees working in international institutions and companies.

(ST)

Source: sudantribune