• Saudi annual inflation eases to 4.1 pct in August


    Sept.14, 2009
    Annual inflation in Saudi Arabia eased to 4.1 percent at the end of August after 4.2 percent in July, its lowest level in at least two years, state news agency SPA said late on Sunday.
    The kingdom's cost of living index was 122.7 points in August, the SPA said without giving a comparison figure for August last year.
    Inflation rates have been declining rapidly in the largest Arab economy as commodity prices slumped and a stronger U.S. dollar helped reduce import costs for the major oil exporter, which pegs its riyal to the dollar, reports Reuters.

© All Rights Reserved for Asharqia Chamber