Hope and fear as tourists trickle back to Kashmir town after attack    Spain and Portugal scramble to restore power as officials chase cause of outage    Israel spy chief to step down after row with Netanyahu exposes deepening rifts    Saudi, Omani foreign ministers visit Rub' Al-Khali border crossing    From his own resources... Luminous lessons in leadership and humanity    Commerce Ministry recalls 6,500 Genesis cars due to risk of fire    Royal Institute of Traditional Arts implements Saudi-Chinese cultural exchange program    Localization in Saudi military industries rises to 19.35%    Logistics park for vehicles worth SR300 million to be set up at Dammam port    HONOR KSA expands its presence with new flagship Experience Store in Riyadh HONOR's first flagship store in KSA provides visitors with a premium experience, exciting offers and free services    Prince Sultan University launches first bachelor's program in language and media    Putin announces three-day Russian ceasefire in Ukraine from 8 May    Al-Falih: Eastern Province hosts 700 investment opportunities worth SR330 billion    Rock & Roll Hall of Fame picks Outkast but not Oasis    Duran leads Al Nassr past Yokohama Marinos into AFC Champions League Elite semi-finals    Al Ahli cruise past Buriram into AFC Champions League Elite semi-finals    Saudi orchestra to perform at Sydney Opera House in May    Al Hilal thrash Gwangju to reach AFC Champions League Elite semi-finals    Saudi Theater Commission launches its Work and Learn Project in UK    The season has begun — and one comment shook us all    Pakistani star's Bollywood return excites fans and riles far right    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.