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: January 19, 2018
LEBANON. 2018 annual consumer trends report from J. Walter Thompson's Innovation Group MENA, forecasts 100 trends depicting the region's fast-paced evolution; It captures key themes accelerating the pace of change for consumers.
date:Posted: January 18, 2018
INTERNATIONAL. Gemalto and Ponemon Institute study reveals regional disparities in adoption of cloud security; Half of global organizations believe that payment information (54%) and customer data (49%) is at risk in the cloud; Over half (57%) think using the cloud increases compliance risk.
date:Posted: January 17, 2018
UAE. Here are the top five technology trends that digital leaders should invest in for 2018: Put your data to work; Re-invent how networks work; Automate your virtual assistant; Embrace all the clouds; Embed security in everything.
LEBANON. 2018 annual consumer trends report from J. Walter Thompson's Innovation Group MENA, forecasts 100 trends depicting the region's fast-paced evolution; It captures key themes accelerating the pace of change for consumers.
dhgate