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.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: June 27, 2017
UAE. 38% of patients have trust in the system; 78% eager to use new technologies to make healthcare decisions.
date:Posted: June 27, 2017
UAE. NOMU is an alternative equity market to the Tadawul, aimed at smaller cap companies although provides the possibility for companies to transition to the main market after a period of time.
date:Posted: June 27, 2017
INTERNATIONAL. Almost every day, there are constant reminders of the increasing scarcity of water and the importance of managing this essential natural resource in the face of ever increasing demands and degrading environmental conditions.
dhgate