January 31, 2013 / 11:55 AM / in 5 years

Saudi c.bank sees stable price pressures in Q1

DUBAI, Jan 31 (Reuters) - Inflationary pressures in Saudi Arabia should remain stable in the first three months of this year, the OPEC member’s central bank said in a report on Thursday.

“Current data indicate that inflationary pressures will be stable during the first quarter of 2013,” the Saudi Arabian Monetary Agency said in its quarterly inflation report, without giving further details.

Average inflation in the world’s top oil exporter eased to 4.5 percent last year, the lowest level since 2007, from 5.0 percent in 2011. A Reuters poll this week forecast consumer price growth of 4.4 percent in 2013.

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