BREAKING NEWS

South Sudan inflation dips to 42.9% in September

By REUTERS

OCTOBER 9, 2012 11:56

JUBA- South Sudan's annual inflation eased slightly to 42.9 percent in September from 43.3% in August, driven mainly by a dip in the cost of food and non-alcoholic beverages, official data showed on Tuesday.

South Sudan gained independence from Sudan in July 2011 and has introduced severe austerity measures to combat an economic crisis caused by the shutdown of its oil industry in January this year.

In September, the South signed trade and oil deals with its old civil war foe Sudan that will allow for the oil wells to be turned back on. Before the shutdown oil contributed 98% of state income in one of the world's least developed countries.

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