Saudi Arabia's central bank expects moderate inflationary pressures in the Gulf oil producer in the second quarter of 2011, it said yesterday, but analysts remain wary of import inflation and dollar weakness.
Inflation in the world's top oil exporter has eased since touching an 18-month high of 6.1 per cent in August 2010 as a rise in food costs subsides."Available data ... show possible continued domestic inflationary pressures, at moderate rates, during the second quarter of 2011," the central bank said in a quarterly inflation report.
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Saudi bank expects moderate inflation
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