Annual inflation in Saudi Arabia has grown to the highest level for at least a year to 5.5% in June from 5.4% in May, Reuters has reported. Annual inflation in the biggest Arab economy started picking up again after slowing to a two-and-a-half year low of 3.5% in October before rising to 5.4% in May, still well below a record high of 11.1% in July 2008. In May, the Saudi Arabian Monetary Agency (SAMA) said inflation was likely to be steady in the second quarter and will be mainly driven by rising housing and food prices.
You might also like...
PIF entity makes $1bn Lucid placement
29 March 2024
Petro Rabigh awards KBR maintenance contract
29 March 2024
Diriyah Company seeks firms for demolition work
29 March 2024
Consultant appointed for Ellington Views RAK project
29 March 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.