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FINANCIAL NEWS
Saudi inflation decreases to 4.7%
14 Apr 2011
(MENAFN) Saudi Central Bank Governor, Muhammad al-Jasser, said that that country’s yearly inflation decreased last month to 4.7 percent due to the reduce in food prices, reported Arabian Business.
Al-Jasser said that the demand would rise due to a package of aids given by the government that came as a result of the political unrest in some Arab countries.
He added that the central bank wouldn’t change interest rates and that it would keep them at 2 percent without reducing them.
It is worth noting that consumer prices rose by 0.3 percent in the kingdom last month, compared to 0.2 percent increase in February.
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