Sudan's inflation rate drops slightly in Dec. 2022

KHARTOUM, Jan. 16 (Xinhua) -- Sudan's inflation rate dropped slightly to 87.32 percent in December last year from 88.83 percent recorded a month earlier, the country's Central Bureau of Statistics said in a press release on Monday.

The bureau attributed the drop in inflation rate to lower food and beverage prices in December.

After reaching its peak of 422.78 percent in July 2021, Sudan's inflation rate began to decline as a result of tough measures adopted by the dissolved transitional government.

In an effort to be exempt from foreign debts totaling about 60 billion U.S. dollars, the transitional government, which was formed in 2019 and led by former Prime Minister Abdalla Hamdok, started implementing a structural reform plan that was monitored by the International Monetary Fund.

However, the plan was crippled after the general commander of the Sudanese Armed Forces Abdel Fattah Al-Burhan declared a state of emergency on Oct. 25, 2021 and dissolved the government.

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