FINANCIAL NEWS

Bahrain’s inflation edges up to 1.8% in January

21 Feb 2010

(MENAFN) Bahrain’s inflation grew to 1.8 percent year-on-year in January from 1.6 percent in December, on the back of a rise in food prices which reached its highest level since September last year, Reuters reported.

Bahrain’s consumer price index (CPI) stood at 111.5 in January, marking a 0.36 percent rise over December, according to the Central Informatics Organization (CIO).

Data showed that the country’s food prices rose 0.55 percent in January from the previous month, while clothing prices grew 0.96 percent and housing, water and electrify prices remained unchanged.

Earlier this year, Bahrain’s central bank governor, Rasheed Al-Maraj, said that the bank did not see any immediate inflationary pressure in the country. Analysts expect food prices to continue weighing on inflation in the Gulf region, but weak household demand and credit growth should keep the scope of price rises in check.

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