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Tue 21 Mar 2017 02:58 PM

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Bahrain's inflation continues to fall in February

Rate drop to 0.4% is driven by further decreases in food prices, according to country's statistics office

Bahrain's inflation continues to fall in February
Bahrain World Trade Centre, Bahrain economy, Bahrain skyline, Bahrain business

Bahrain's inflation rate continued to tumble in February as food prices fell, according to latest data released by the country's statistics office.

The inflation rate fell to 0.4 percent last month from 0.8 percent in January, having fallen from 2.9 percent a year earlier, the figures showed.

Although housing and utility costs, which account for 24 percent of consumer expenses, rose 3 percent from a year earlier, the prices of food and non-alcoholic beverages, which account for 16 percent, fell 4.2 percent.

Inflation in Bahrain rose to 3.8 percent in April 2016, its highest level since December 2013.

In December, the CEO of the country’s investment agency said he expects Bahrain to see non-oil sector growth of more than 3 percent in 2016 and 2.4 percent in 2017.