Bahrain inflation holds above 4pc
Manama, December 21, 2008
Annual inflation in Bahrain held above 4 per cent in November, steered mainly by higher food prices, government data showed on Sunday.
The consumer price index of the smallest Gulf Arab economy rose to 109.4 points on November 30 compared with 104.87 points a year earlier, according to data posted on the Central Informatics Organization website.
Consumer prices in November rose 0.46 percent from October, as food, beverage and tobacco costs advanced 0.73 percent, the data showed. Food costs rose 10.1 percent in November from a year earlier.
Moderating inflationary pressures have allowed the island kingdom to cut its key interest rates, the central bank has said.
Bahrain, which pegs its currency to the US dollar, lowered key deposit and lending rates last Thursday by 75 basis points as it sought to improve money market conditions.-Reuters