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Saudi inflation rate decreases to 2 percent in March
(MENAFN) Saudi Arabia's inflation rate hit rock bottom in March, with 2 percent, which is the lowest since the beginning of the year, according to the Saudi Central Department of Statistics, Arab News reported.
The Department's issued consumer price data for the year showed that the downfall went from two months in a row, February and January, in which the inflation rate was recorded at 2.1 and 2.6 percent, respectively.
"Nevertheless, we see an upside risk to inflation for the remainder of the year, driven mainly by domestic inflationary pressures. The liquidity injection has already pushed up monetary aggregates," an official report stated.
The Department's issued consumer price data for the year showed that the downfall went from two months in a row, February and January, in which the inflation rate was recorded at 2.1 and 2.6 percent, respectively.
"Nevertheless, we see an upside risk to inflation for the remainder of the year, driven mainly by domestic inflationary pressures. The liquidity injection has already pushed up monetary aggregates," an official report stated.
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