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FINANCIAL NEWS
Saudi May inflation growth slows to 5.1%
10 Jun 2012
(MENAFN) Saudi Central Department of Statistics (CDS) announced that last month, the growth pace of the country’s annual inflation slowed to 5.1 percent from 5.3 percent in 2011’s same period, reported Arabian Business.
The agency said that in May, furnishing prices fell by 0.3 percent and kitchen appliances prices dropped by 0.1 percent, on the other hand, food prices rose by 0.1 percent and housing and rental items went up by 0.2 percent.
However, prices of home repairs, fuel and water supply were unchanged.
It is worth noting that inflationary pressures are forecasted to remain during the second quarter, according to Saudi central bank.
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