Saturday 20 August 2011

Saudi cbank sees moderate price pressures in Q3 || Reuters

Saudi Arabia's central bank expects inflationary pressures in the biggest Arab economy to continue at a moderate pace in the third-quarter of this year, it said on Saturday.

Consumer prices in the world's top oil exporter are expected to climb further this year due to surging global food prices and following a government announcement earlier this year that it plans to spend more than $130 billion on social projects.

"Data shows... the possibility of continuation of inflation pressures within moderate levels during the third-quarter of 2011," SAMA said on its website.

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