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24-02-14

KSA inflation to continue downward trend

(MENAFN) The annual inflation rate in Saudi Arabia is expected to drop further to come below 3 percent in the first quarter of 2014, Arabian Business reported. The kingdom"s central bank said: "The general inflation rate is expected to continue declining below 3 percent during the first quarter of 2014, in line with the fall of the inflationary pressures in the food and beverages group..." Consumer price growth in the country has been going down since peaking at 4.0 percent in April 2013. The inflation dropped to 2.9 percent in January 2013, logging the lowest level since early 2007.