Bahrain – Decypha: Bahrain’s inflation rate dropped to reach a remarkable 0.8% in January 2017, in comparison to 2.3% recorded in January 2016, and in comparison to its highest percentage of 3.8 which was reached in April 2016, Arabian Business reported, according to Bahrain’s official data.
A drop by 2.3% was witnessed in the prices of food and non-alcoholic beverages, which accounts for 16% of the average local household budget, Arabian Business reported
The same source reported an increase in housing and utility costs by 3%, which account for 24 percent of consumer expenses.
Bahrain’s inflation rate is forecasted to hit 3.5% by the fourth quarter (Q4) of 2017, however, Q1-17 is expected to close with a zero inflation rate. Food prices are expected to continue to decrease, hitting a -3.53% decrease by Q4-17, according to Trading Economies’ forecasts which were updated on March 17, 2017.
By Decypha News Editorial Taeam
