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FINANCIAL NEWS
Saudi annual inflation accelerates in March
15 Apr 2010
(MENAFN) A report issued by the Saudi Arabian Central Department of Statistics showed that the Kingdom’s inflation accelerated to a nine-month high of 4.7 percent in March, up from 4.6 percent in February, SPA reported.
The inflation rate has been increasing due to the economic recovery after falling to a more than two-year low in October. Month-to-month inflation in the world’s largest oil exporter as measured by the cost of living index rose 0.5 percent to 126.7 points.
The annual increase in the food and beverage price index was 5 percent in March, up from 4 percent the previous month, while it eased for the renovation, home rents, water and fuel index to 10.1 percent from a 10.6 percent annual rise in February.
The food and beverage index accounts for a 26 percent weighting in the cost of living index.
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