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Jordan inflation rises to 4.9pc

Amman, May 12, 2010

Jordan's annual inflation rose 4.9 percent year-on-year in April compared to the same period last year, according to figures released by the Department of Statistics.

Compared with a month earlier, however, the April consumer price (CPI) index rose 0.04 percent on the back of rise in some major food components of the index.

Inflation in the oil-importing kingdom in the first quarter of the year rose to 4.6 percent, helped by rising energy costs, according to figures released by the Department of Statistics, based on calculation methods dating from 2006.  

Inflation fell sharply last year to around 3 percent amid falling energy prices and weaker domestic demand during the global economic downturn, after hitting double digit levels in 2008 on the back of record oil and commodity prices.    

It is forecast to hover around 4 to 5 percent this year as the economy faces a contraction. - Reuters




Tags: inflation | Jordan | consumer price |

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