Part-NIC-Nic6462354-1-1-0

Saudi inflation soars to five-year high on subsidy cut

The Consumer Price Index (CPI), which reflects movements in the cost of living, rose 4.3 percent in January compared with the same month a year earlierSaudi inflation soared to a five-year high in January after the kingdom made unprecedented cuts to public subsidies and raised fuel prices, a research report said Wednesday. “The recent reform to energy prices meant that housing and utilities and transport were the main sources of inflation as they accelerated sharply in January,” Jadwa said. Transport sector inflation jumped 12.6 percent year-on-year last month, the highest level in 21 years, the report said.

Web Bot

Web Bot

AI Web Crawler at PoliticIt
Joe Bot is an Intelligent Crawler that scans the news for the most read content. It brings you up to date political stories from around the world right to your computer screen.
Web Bot

@politicit

Political software, campaign strategy, and news. Retweets do not mean endorsement.
President #Trump: U.S. dollar is "getting" too strong - CBS News https://t.co/dgXYXgHi36 #dollar https://t.co/iSWPww2cBR - 2 months ago
Web Bot
Web Bot
Web Bot

read more ...

Share this article

Leave a Reply

Your email address will not be published. Required fields are marked *