Riyadh – Mubasher: The actual figures of the third quarter of 2016 showed a downward trend for the inflation rate, which reflects a decrease in the inflationary pressures resulted from energy prices, according to Saudi Arabian Monetary agency (SAMA).
SAMA pinpointed that the rationalization of the government’s spending, lower global food prices and imports costs would limit the effect of higher energy prices.
It is expected that inflation level would continue to deteriorate during the fourth quarter of 2016 to levels approaching or lower than that of Q3, according to Q3 inflation report released by SAMA.
International Monetary Fund’s (IMF) expectations for the primary commodities price index showed a decline in the inflationary pressures in most of the index’s main components, SAMA said.
The general levels of prices in Q3-16 witnessed a 3.4% rise year-on-year, and a marginal increase of 0.2% quarter-on-quarter.
