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FINANCIAL NEWS
Saudi inflation rate to remain stable in Q4
19 Nov 2014
(MENAFN) According to Saudi Arabian Monetary Agency’s (SAMA), Saudi Arabia’s inflation rates are expected to remain stable during the October-December period of this year, Arab News reported.
During the July-September period of this year, inflation rates registered an increase due the increases which were recorded in the group of recreation and culture, the group of food and beverages, the group of furnishings and household equipment and the group of clothing and footwear.
Meanwhile, the annual cost of living index registered an increase of 2.8 percent in September compared with the same month last year, as well as a monthly rise of 0.2 percent, while during the third quarter it registered an increase by 2.8 percent compared to the same period last year and a quarterly rise by 0.8 percent.
In terms of groups during the July-September period, recreation and culture group recorded the highest inflation rate, increasing by 10.7 percent compared to the corresponding quarter of the previous year, followed by the Tobacco group, which increased by 7.3 percent.
These two groups were then followed by furnishings, household equipment and maintenance group with 4.1 percent, education group with 3.7 percent, and health group with 3.3 percent, while housing, water, electricity, gas and other fuels group registered 3.1 percent and food and beverages increased by 2.4 percent during the third quarter of 2014.
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