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: February 12, 2016
INTERNATIONAL. A Syria in which the regime and IS, rather than other rebel groups, are the only real domestic players turns Bashar al-Assad into a pivotal cog in the fight against jihadism. That is something Saudi Arabia cannot allow to happen. To turn the tide, it needs a United States that is engaged and willing to do its bit.
date:Posted: February 11, 2016
INTERNATIONAL. "Although we anticipate some strain on Gulf banks' funding and liquidity this year, good asset quality and strong capitalization remain positive factors."
date:Posted: February 10, 2016
UAE. Low oil prices will constrain the amount of funding available to Gulf sovereigns and banks to support the region's substantial infrastructure bill in coming years; S&P projects a gap as large as $270 billion through 2019 between capital spending for projects and project contracts awarded.
INTERNATIONAL. A Syria in which the regime and IS, rather than other rebel groups, are the only real domestic players turns Bashar al-Assad into a pivotal cog in the fight against jihadism. That is something Saudi Arabia cannot allow to happen. To turn the tide, it needs a United States that is engaged and willing to do its bit.
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