RIYADH, Feb 22 (Reuters) - Saudi Arabia's annual inflation inched down to 4.1 percent in January from 4.2 percent in December after a drop in home rents index offset a rise in food prices, official data showed.
Month-to-month, the inflation rate, as measured by the cost of living index, rose 0.2 percent in January, the official SPA news agency said on Sunday quoting the government's statistics department.
The renovation, home rents, water and fuel cost index rose 11.6 percent in the 12 months to end-January down from 12 percent in December while the food and drinks cost index rose an annual 2.2 percent in January up from 1 percent the previous month, it added.
Earlier on Sunday, the Saudi central bank said housing will keep inflation rising during the first quarter but a stabilization in food prices will keep it below the 1.5 percent recorded in the previous quarter.
The food and drinks index account for 26 percent in the weighting of the cost of living index while the renovation, home rent, fuel and water group weighs 18 percent in the living index.
(Reporting by Souhail Karam, Editing by Bernard Orr) Keywords: SAUDI INFLATION (souhail.karam@thomsonreuters.com; Riyadh newsroom +966 1 463 2603) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Month-to-month, the inflation rate, as measured by the cost of living index, rose 0.2 percent in January, the official SPA news agency said on Sunday quoting the government's statistics department.
The renovation, home rents, water and fuel cost index rose 11.6 percent in the 12 months to end-January down from 12 percent in December while the food and drinks cost index rose an annual 2.2 percent in January up from 1 percent the previous month, it added.
Earlier on Sunday, the Saudi central bank said housing will keep inflation rising during the first quarter but a stabilization in food prices will keep it below the 1.5 percent recorded in the previous quarter.
The food and drinks index account for 26 percent in the weighting of the cost of living index while the renovation, home rent, fuel and water group weighs 18 percent in the living index.
(Reporting by Souhail Karam, Editing by Bernard Orr) Keywords: SAUDI INFLATION (souhail.karam@thomsonreuters.com; Riyadh newsroom +966 1 463 2603) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.