Sudan inflation falls in June for first time in over a year, to 32.6 pct

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KHARTOUM, July 18 (Reuters) – Sudan’s annual inflation rate dropped for the first time in more than a year in June, falling to 32.63 percent from 35.52 percent in May, the central statistics office said on Tuesday.

Sudan’s economy has deteriorated since the south seceded in 2011, taking with it three-quarters of the country’s oil output, its main source of foreign currency and government income.

The government cut fuel and electricity subsidies in November in a bid to tighten its finances and petrol prices rose by about 30 percent, leading to broader inflation.

Before the June figures, year-on-year inflation had climbed every month since March 2016, when it stood at 12.94 percent.

A dollar shortage and a ballooning black market for hard currency have also made foreign-made goods more expensive in a heavily import-dependent country.

The Sudanese pound weakened on the black market on Tuesday, trading at about 21.5 pounds to the dollar from about 19 pounds last week, currency traders said, extending a decline that began when the United States postponed a decision on long-awaited sanctions relief.

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