Inflation Report- April 2013

The Central Department for Statistic and Information released Consumer Price Index inflation data for April, showing prices slightly rising to 4 percent year-on-year compared with 3.9 percent in the previous three months. This level of inflation remains among the highest inflation rates relative to the Kingdoms main trading partners. Our estimate of Saudi core inflation, which excludes food and housing-related services, also eased to 3.4 percent year-on-year in April compared with 3.5 percent in March. A major highlight of April inflation print is the food prices acceleration to 6.2 percent year-on-year compared with 5.3 percent in March.