SAMA sees higher inflation in Q2 on seasonal factors

The Saudi Arabian Monetary Authority (SAMA), the Kingdom’s central bank, said it expects inflation to rise during the second quarter of this year, as it coincides with the holy month of Ramadan and Eid Al-Fitr.

Consumer demand is likely to be backed by these factors, the central bank added in its quarterly report.

Inflation rates accelerated by 2.9 percent year-on-year in Q1 2018.

The Saudi inflation rate turned positive in the first quarter of the year, reversing several months of negative performance, Argaam reported.