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FINANCIAL NEWS
Saudi’s 2011 inflation slows to 5%
29 Jan 2012
(MENAFN) Saudi Jadwa said that last year, the Kingdom’s inflation fell to 5 percent, recording its lowest point in four years, reported Emirates 24/7.
The investment firm added that the decline resulted from lower rents and food prices (the largest components of the cost of living index) that offset the increase in other categories of the consumer price index (CPI).
It also said that food and beverages prices dipped to 5.2 percent in 2011, from 6.2 percent in the previous year, whereas housing and related items declined to 7.8 percent from 9.5 percent.
It is worth noting that in the period, home furniture prices slipped to 0.5 percent from 2.8 percent, on the other hand, transport and telecommunications prices rose to 2.1 percent in 2011 from 1.1 percent, while other expenses and services grew to 8.9 percent from 7.4 percent in 2010.
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