New Increase in Inflation Rate

On Tuesday, the Central Bureau of Statistics revealed that the annual rate of price change (inflation) in July 2024 rose to 193.94% compared to 158.16% recorded in the previous June.

The bureau stated in a report that “the general annual rate of price change in July increased by 193.94% compared to the same time last year.”

It indicated that the urban inflation rate in July rose to 181.70% compared to 155.89% in June, while the rate in rural areas in July rose to 202.25% compared to 159.43% in the previous month.

The bureau reported that inflation rates decreased in July in 6 states, while they rose in the remaining 12 states, with Kassala State experiencing the highest increase, reaching 700.56% compared to 383.12% in June, with an increase of 417.44%.

It stated that the inflation rate in the Nile River State in July increased by 210.86%, where it recorded 202.20% in June, rising to 413.06% in July. In contrast, the rate rose by 201.68% in Gedaref State, where it was recorded at 201.06% in June, increasing to 402.74% in July.

The Bureau of Statistics also mentioned that the inflation rate for the food and beverage group in July rose by 154.86% compared to 127.66% in June, while the inflation rate for imported goods in July increased to 121.32% compared to 97.17% in June.

The increase in the inflation rate is primarily attributed to the continued depreciation of the local currency against foreign currencies, as Sudan relies heavily on securing most of its needs for goods, wheat, and fuel from abroad.