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Wed 11 Nov 2009 12:02 PM

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Saudi cenbank mixed on inflation forecast for Q4

Seasonal factors may cause inflationary pressures - Saudi central bank's research dept.

Saudi Arabia could face inflationary pressures during the fourth quarter but they will be mostly due to seasonal factors, the Saudi central bank's research department said on Wednesday.

"All data show that the general trend indicates a continued decline in the inflation rate during the fourth quarter of 2009 according to current indexes and future forecasts at both the domestic and international levels," it said in a note.

"However, it can not be denied that there are some data indicating probable inflationary pressures that would be faced due to factors, which may mostly be seasonal," it added.

Inflation in Saudi Arabia rose to an annual 4.4 percent in September from 4.1 percent in August, its first increase in four months, which coincided with the month of Ramadan, which typically increases consumer demand. (Reuters)

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