South Sudan October inflation jumps to 71.7 percent
Nov 14, 2011
South Sudan's annual inflation rate jumped to 71.7 percent in October from 61.5 percent in September on a new surge in food prices, the new African nation which is struggling to provide adequate food supplies said.
South Sudan's annual inflation rate jumped to 71.7 percent in October from 61.5 percent in September on a new surge in food prices, the new African nation which is struggling to provide adequate food supplies said.
South Sudan became independent on July 9 under a 2005 peace agreement with its former civil war foe, Khartoum, but has been struggling to fight an economic crisis and contain tribal and rebel violence that has killed thousands this year.
The United Nations has warned the new underdeveloped nation will be facing severe food shortages from next year because it will produce less than half what is needed in 2011 due to heavy rain and widespread violence.
Month-on-month inflation accelerated 7.4 percent in October as food and non-alcoholic beverage costs -- the biggest component in the consumer price index -- rose by 11 percent.
Costs for bread, cereals, meat, fish, grain and other basic food items rose, the National Bureau of Statistics said on its website. On an annual level, the costs for food and non-alcoholic beverages rose by 78.5 percent in October.
Landlocked South Sudan has been hit hard by a temporary closure of the joint border with north Sudan from which its buys much of its food and other needs.
Both countries reached a border agreement to facilitate travel last month, but a lack of trade agreements and joint banking system has hampered bilateral trade.
Bilateral relations worsened last week when South Sudan accused Sudan of having bombed a refugee camp on its territory near the joint border. Khartoum has denied the charges.