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Saudi inflation set to increase

15 June 2010

Economists have said that inflation in Saudi Arabia may increase further in the coming months, after hitting a one-year high of 5.4% year-on-year in May on rents and food prices, Reuters has reported. "We forecast that rental pressure will continue to increase with the strengthening in economic activity, while food prices will increase in August with the holy month of Ramadan," Monica Malik, chief economist at EFG-Hermes in Dubai said.

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