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FOOD, HOUSING PRICES SOAR

Saudi inflation edges up to 3.1pc y/y in Nov

Riyadh, December 12, 2013

Saudi Arabia's inflation in November edged up to 3.1 per cent year-on-year mainly because of higher food and housing costs, according to a report.

The prices of food and beverages rose 5.4 per cent year-on-year in November and 0.6 per cent from the previous month, stated the Central Department of Statistics in its consumer price data released on Thursday..

The housing and utility costs increased 3.5 per cent on an annual basis and 0.2 per cent month-on-month, it stated.

Analysts polled by Reuters in September expected average inflation in the world's top crude exporter to climb to 3.8 per cent in 2013 and 3.9 per cent in 2014 from 2.9 per cent in 2012.-Reuters




Tags: Saudi inflation |

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