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Saudi’s inflation pressures in Q2 ‘limited’

Riyadh, May 2, 2013

Inflationary pressures in Saudi Arabia are set to rise in the second quarter of this year but the price increase should be limited, the Opec member's central bank said in a report.

"Given the (available) indicators ... we expect relative and limited increase in inflationary pressures in the second quarter of 2013," the Saudi Arabian Monetary Agency said in its quarterly inflation report, without giving further details.

Average inflation in the world's top oil exporter eased to 2.9 percent last year, the lowest level since 2006, from 3.7 percent in 2011, according to a new rebased consumer price index. A Reuters poll this week forecast consumer price growth of 4.5 percent in 2013. – Reuters




Tags: Saudi Arabia | Central Bank | inflation | Riyadh |

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