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MENAFN - 20/12/2012

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(MENAFN) Jadwa Investments stated that last year, inflation in Saudi was at nearly 5 percent, the highest in the Gulf Cooperation Council (GCC), reported Emirates 24/7.

The Riyadh-based firm said that the average inflation rate in the GCC in October 2012 was at 2.6 percent.

According to the Saudi Central Department for Statistics and Information, the Kingdom's inflation level rose to 3.9 percent last month year-on-year compared with 3.8 percent in October.

Food prices grew to 4.8 percent, whereas rent and housing-related services fell to 6.5 percent from 6.7 percent in October, posting the lowest point in 5 years.

 






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