SAMA sees positive CPI figures in Q2

Saudi Arabia’s consumer price index (CPI) will likely edge up in the second quarter of 2017, according to the Saudi Arabian Monetary Authority (SAMA), the Kingdom’s central bank.

The CPI could rise on the back of rolling back wage and benefit cuts imposed on top ministers and other public workers, in addition to other seasonal factors, including the holy month of Ramadan, summer vacation, and Eid Al Fitr.

Saudi Arabia’s consumer prices dropped for a fourth consecutive month in April, declining 0.6 percent year-on-year (YoY).