Bahrain inflation drops to 3.1pc
Manama, May 22, 2009
Annual inflation in Bahrain slowed to 3.1 per cent in April from 4.3 per cent in March as food and beverage prices posted a month-on-month decline, official data showed.
The consumer price index of the Gulf island kingdom stood at 109.5 points at the end of April compared with 106.2 points a year earlier, the Central Informatics Organization (CIO) said on its website.
Consumer prices in April fell 0.3 percent from their levels in March, the data showed.
The CIO said a 5.6-percent decline in the cost of rice in April from the month earlier was the primary reason behind the 1.5-percent drop in the cost of food and non-alcoholic beverages.
Inflation across the Gulf states has slowed as global commodity prices ease and the dollar strengthens, bringing down the cost of imports for countries like Bahrain.
The inflation rate rose to more than 10pc in the other five GCC countries last summer.
The annual average inflation rate for Bahrain is forecast to drop to 3pc this year from 3.5pc last year, according to the International Monetary Fund. It expects inflation to average 5.3pc in the GCC this year-Reuters