• Saudi annual inflation rises to 4.4 pct in Sept


    Annual inflation in Saudi Arabia rose to 4.4 percent in September, 2009 after 4.1 percent in August, official data showed on Sunday.
    The kingdom's cost of living index was 123.5 points in September up from 118.3 points a year earlier, the data published by the official statistics authority showed. The state statistics authority has reported that the index reached 122.7 in August.
    On the month, inflation rose to 0.7 percent in September.
    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.

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