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Home : News : Finance and Economy : 2007
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Dollar not the reason for inflation, says Saudi CB chief

  • Saudi Arabia: Thursday, November 15 - 2007 at 15:54

Saudi Arabia's central bank chief said domestic housing, and global food and commodity prices are the main reason for the country's inflation rather than the dollar's decline, reported the Financial Times. Inflation in Saudi Arabia rose to 4.89 per cent in September a record high in the past decade. While annual rent costs jumped 11 per cent and food 7.2 percent.

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Amena BakrAmena Bakr, Senior Reporter
Thursday, November 15 - 2007 at 15:54 UAE local time (GMT+4)

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