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Mon 22 Aug 2016 02:09 PM

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Bahrain inflation rises to 3.5% in July, driven by housing costs

Latest figures released by statistics office shows housing and utility costs rise 3.8% on annual basis

Bahrain inflation rises to 3.5% in July, driven by housing costs

Inflation in Bahrain rose to 3.5 percent in July, driven by increases in housing and utility prices, according to new data released by the country's statistics office.

According to the figures cited by Reuters, inflation rose 0.2 percent compared to June and jumped from 1.1 percent in the year-earlier month.   

In July, housing and utility costs, which account for 24 percent of consumer expenses, rose 3.8 percent from a year earlier.

Prices of food and non-alcoholic beverages, which account for 16 percent of the basket, climbed 4.9 percent.

Inflation in Bahrain rose to 3.8 percent, its highest level since December 2013 in April.

Bahrain experienced a pronounced pick-up in its headline growth during the first quarter of the year, according to the Economic Development Board (EDB).

Its latest Bahrain Economic Quarterly report showed growth reached 4.5 percent, its highest level since 2014, led by the 12.1 percent year-on-year growth in the oil sector.

The report also noted resilience in the non-oil economy, where it continued to grow and benefit from a large pipeline of infrastructure investment.

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