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FINANCIAL NEWS
Jordan’s inflation slows to 4.7% in August
13 Sep 2010
(MENAFN) Jordan’s Department of Statistics said in a statement that the kingdom’s year-on-year consumer price inflation (CPI) fell to 4.7 percent in August from 4.8 percent in July, Petra reported.
Yearly inflation – which stretched into double digits in 2008 on the back of record oil and commodity prices – has picked up again after falling to 3.9 percent in January this year.
Inflation in the oil-importing kingdom ran at around 5 percent in the first half of 2010, buoyed by rising energy costs. Economists expect it to hover around 6 percent this year while the government still hopes it will stay in a 3-4 percent range.
The Central Bank of Jordan (CBJ) slashed its benchmark lending rates by a total of 250 basis points in an easing cycle that dates back to November 2008.
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