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FOOD, HOUSING PRICES UP

Saudi September inflation eases to 3.2pc y/y

Riyadh, October 17, 2013

Saudi Arabia's inflation eased to 3.2 per cent in September from 3.5 per cent last month despite a major rise in food, housing and utility prices, official data showed on Thursday.

Analysts polled by Reuters in September expected average inflation in the world's top crude exporter to climb to 3.8 percent in 2013 and 3.9 percent in 2014 from 2.9 per cent in 2012.

Consumer prices slowed to 3.2 per cent compared to 3 percent in the same month a year earlier, while monthly inflation remained unchanged from April at 0.2 per cent, according to data from the Central Department of Statistics (CDS).

The food and beverage prices rose 5.9 per cent year-on-year in September and 0.5 per cent from the previous month, while housing and utility costs surged 3.7 per cent on an annual basis and
0.1 per cent month-on-month.
    
The data are based on the 2007 consumer basket.-Reuters




Tags: inflation | Saudi | Food | Housing |

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