Saudi inflation slows to 5.3% in April on lower food cost
Source: BI-ME with Bloomberg , Author: Posted by BI-ME staff
Posted: Mon May 14, 2012 12:07 am

SAUDI ARABIA. Saudi Arabia’s inflation rate slowed to 5.3% in April from 5.4% in the previous month as the cost of food and beverages declined.

Food and beverage prices slid an annual 4.3% in April from 5.1% in March, the Central Department of Statistics said on its website today. Goods and other services fell an annual 6.9% in April from 7.1% in March. Consumer prices rose 0.2% on a monthly basis.

Saudi government plans to spend more than US$500 billion have spurred inflation to the highest rate in the six-member Gulf Cooperation Council. The council includes Oman, Bahrain, Kuwait, Qatar and the United Arab Emirates.

Pressure on prices in Saudi Arabia, the largest Arab economy, will continue into the second quarter, affecting rent, food and beverages, and commodities, the kingdom’s central bank said in a quarterly report posted on its website on May 10.

Housing, fuel and water costs accelerated an annual 9.2% in April from 8.9% in March, according to the Department of Statistics.



date:Posted: October 25, 2016
UAE. Demographic and social change, shift in global economic power, rapid urbanisation, climate change and resource scarcity, and technological breakthroughs to dictate and shape the future of the region.
date:Posted: October 24, 2016
UAE. Blockchain can impact key areas of finance including retail payments infrastructure, remittances, FX trading, trade finance, capital markets and compliance activities; Booz Allen Hamilton identifies specific opportunities, recommends how the UAE can organize and co-ordinate efforts.
date:Posted: October 24, 2016
UAE. Business confidence in Middle East improves for second consecutive quarter, but remains low amid slumping growth rates; 44% of businesses report worsening conditions; UAE in stronger position as budget surplus relaxes austerity measures.
cheap wedding dresses on