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Saudi cbank expects inflation to fall below 3pc

Dubai, December 16, 2013

Saudi Arabia's central bank expects annual inflation to continue falling to below 3 percent in the final quarter of this year, it said in a report on Monday.

"It is expected that the general inflation in the kingdom will continue going down to below 3 percent during the fourth quarter of 2013, especially with the decrease of inflationary pressures in the food and beverages group and the continuation in the decrease in the prices of main commodities on the global markets," it said.

Consumer price growth in the world's top oil exporter has been easing gradually since hitting this year's peak of 4.0 percent in April. It edged up to 3.1 percent in November from 3.0 percent in the previous month.

Analysts polled by Reuters in September forecast average inflation of 3.8 percent this year, up from 2.9 percent in 2012. – Reuters

Tags: Saudi Arabia | Central Bank | inflation |

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