Saudi Arabia Escapes Deflation Just Barely as Cycle Turns: Chart - Bloomberg:
Saudi inflation crawled above zero in December for the first time in a year, ending an unprecedented stretch of price declines made worse by a slump in housing costs. A pickup in the non-oil economy is likely to keep up price pressures after the headline figure ticked up as food inflation doubled last month. A diminishing drag from housing, coupled with stronger domestic demand, should push Saudi inflation further into positive territory throughout this year, according to Ziad Daoud of Bloomberg Economics.
Saudi inflation crawled above zero in December for the first time in a year, ending an unprecedented stretch of price declines made worse by a slump in housing costs. A pickup in the non-oil economy is likely to keep up price pressures after the headline figure ticked up as food inflation doubled last month. A diminishing drag from housing, coupled with stronger domestic demand, should push Saudi inflation further into positive territory throughout this year, according to Ziad Daoud of Bloomberg Economics.
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