Inflation in Sudan slows to 387.56% in August

Sudan’s inflation first fell under the country’s transitional government two years ago as the currency shows signs of stabilizing after a year of tough economic reforms.

Inflation slowed sharply from 422.78% in July to 387.56% in August, ending a trend marked by large monthly rises that have pushed inflation to levels not seen in decades.

Sudan is in the midst of a deep economic crisis, while dwindling reserves usually lead to shortages of fuel, bread and essential medicines.

In order to attract support and foreign investment, the government implemented economic reforms the IMF is monitoring, including the removal of fuel subsidies and the devaluation of the currency in February.

Citizens say that the reforms have made the prices of many goods and services inaccessible and that employees in many sectors, including teachers, have periodically carried out strikes demanding higher wages.

In recent weeks, the currency has stabilized on the official and parallel markets at a price of around 450 Sudanese pounds per dollar.

According to government data, inflation has risen in 5 of the 8 Sudanese states and the state of Gedaref recorded the highest rate at 977.01%.

On Monday, the Central Bank of Sudan said the country managed to increase exports by 68 percent, while it went on to say that this level was not enough.

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