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FINANCIAL NEWS
Saudi inflation climbs in June to 4.7%
10 Jul 2011
(MENAFN) The Saudi Press Agency stated that Saudi Arabia’s annual inflation increased to 4.7 percent in June from 4.6 percent last May, reported Arab News.
Furthermore, the living index in June amounted to 134.2 points compared to 133.7 in May. This raise was caused by the high prices of rental, fuel, food and drinks, household furniture, water, entertainment, education, and maintenance.
However, other commodities and services like shoes, clothes, telecommunication,
Transportation and medical care stayed stable, as the Agency stated.
If it is worth noting that the Gulf is facing pressures of inflation especially with the upcoming holly month of Ramadan. However, this inflation remains in the average level with King Abdullah’s extra spending program that limits this year’s inflation to below last year’s 5.3 percent.
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