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Saudi inflation to drop in 2009
- Saudi Arabia: Thursday, July 31 - 2008 at 11:56
Inflation in Saudi Arabia will average 11-12% this year and is expected to drop slightly to 10% in 2009. A report by Samba Financial Group said that government spending and less likelihood of a rise in US interest rates any time soon mean that domestic liquidity growth is likely to remain pronounced. Food prices and rent are the most immediate cause of inflation in the kingdom.
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StaffThursday, July 31 - 2008 at 11:56 UAE local time (GMT+4)
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