Saudi, Iraqi defense ministers discuss regional situation in phone call    Jeddah airport serves over 5.3 million passengers during 5-week peak Umrah season    Woman becomes first in UK to give birth after womb transplant    KSrelief signs agreement to care for orphans in earthquake-affected areas of Syria    Saudi stocks extend rally as TASI hits 11,500 points    Supreme Court pauses midnight deadline to return man mistakenly deported to El Salvador    Beijing vows to 'fight to the end' as Trump threatens 50% more tariffs    US in direct nuclear talks with Iran, Trump says    Six cases of child malnutrition found in Samos migrant camp, medical charity says    Women make up 20% of e-sports players in Saudi Arabia    IMF Chief lauds Saudi Arabia for its prudent leadership of IMFC    First baby born in UK to woman with transplanted womb    Pakistani star's Bollywood return excites fans and riles far right    Saudi Arabia highlights long standing relationship with UNESCO during Executive Board meeting    Princess Haifa: Sporting events draw 14 million tourists with SR22 billion spending in 2024    Ithra to showcase its art collection at Riyadh Art Week    6.8 million people travel via four Saudi airports during 2025 Umrah season    The Seven Dogs wraps filming in Riyadh with a budget exceeding $40 million    Saudi U-17s qualify for 2025 FIFA World Cup after win over Thailand    Al Qadsiah and Al Ettifaq share spoils in tense Eastern Derby stalemate    Benzema rescues Al Ittihad with stoppage-time equalizer in thrilling Jeddah Derby    Veteran Bollywood actor Manoj Kumar dies at 87    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Saudi Arabia's inflation steadies at 5.4 percent in March
Published in The Saudi Gazette on 11 - 04 - 2012

Saudi Arabia's annual rate of inflation held steady at 5.4 percent in March compared with February, a sign that the higher food and rent prices could be inflationary, data from the Central Department of Statistics and Information showed Tuesday.
Rent, fuel and housing related services saw a 8.9 percent rise in March from a year earlier, compared with a 9.3 percent jump in February. Meanwhile, food and beverage prices gained 5.1 percent on year versus a 4.3 percent rise in the previous month, the CDSI said on its website.
On the month, rent, fuel and housing related services inched up 0.5 percent, food and beverage prices gained 0.7 percent from February. The cost-of-living index in the Kingdom stood at 139.9 points last month, up 0.3 percent from 139.5 in February.
The Saudi Arabian Monetary Agency (SAMA) has said that inflationary pressures, caused mainly by an increase in global food prices, are worrying, but the central bank sees no need to change interest-rate policy.
Economists expect inflation to remain higher than its historic average of 1 percent.
Inflation in the Kingdom is expected to moderate to an annual average of 4.4 percent in 2012, Jadwa Investment said in a recent note.
Saudi rents and property prices are rising amid housing shortage, which could push the Kingdom's annualized inflation rate as high as 7 percent later this year, up from 5.2 percent in 2011, they said.
SAMA data in February showed that the Kingdom will see a relative stability or a slight decline in domestic inflationary pressures, especially in the group of food and beverages and the group of goods and other services during the first quarter of 2012. Spending programs announced last year would cost at least SR485 billion.
SAMA is forecast to hold its overnight reverse repo rate at 0.25 percent this month, and the benchmark repurchase rate at 2 percent, analysts said.


Clic here to read the story from its source.