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Sunday, 9 October 2011

Saudi central bank not worried about inflation | Reuters

Saudi Arabia's inflation levels are not worrying and will continue to decline, the country's central bank governor Muhammad Al-Jasser said on Saturday.

"Inflation levels are not worrying. Inflation has become stable since the beginning of the year between around 4.6 and 4.9 (percent)... I expect it to continue its decline," Al-Jasser told reporters on the sidelines of a conference in Riyadh.

Analysts polled by Reuters in June expected average inflation in the country to reach 5.6 percent in 2011.