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Saudi inflation hits 30-year high
- Saudi Arabia: Wednesday, September 03 - 2008 at 11:06
The annual inflation rate in Saudi Arabia surged to 11.1% in July, a 30-year high, according to the kingdom's Central Department of Statistics. The country's cost of living index hit 117.3 on July 31, compared with 105.6 points a year earlier. Food and beverage costs rose 16% in July compared with an increase of 15.8% in June while the rental index jumped 19.8% against 18.7% in June. compared to 10.6% in June, 10.4% in May and 10.5 per cent in April.
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Jeff Florian, Senior ReporterWednesday, September 03 - 2008 at 11:06 UAE local time (GMT+4)
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