Business | Economy
Inflation in Bahrain falls to 4.07%
Annual inflation in Bahrain, the smallest Gulf economy, fell to 4.07 per cent in December after accelerating the month before when housing and food prices surged, government data showed on Thursday.
- Reuters
- Published: 00:04 January 25, 2008
Manama: Annual inflation in Bahrain, the smallest Gulf economy, fell to 4.07 per cent in December after accelerating the month before when housing and food prices surged, government data showed on Thursday.
Inflation in November was 4.87 per cent, the government's Central Informatics Organisation (CIO) said in a statement.
A CIO official yesterday the consumer price index at December 31 was 104.07 points, compared with 100 points a year earlier.
The CIO assumed calculating the Gulf Arab state's consumer price index from the Central Bank of Bahrain in 2006.
It uses 2006 as its base year, and calculates annual inflation for each month at a base 100 points until it works out new weights to calculate prices for previous years, the official said. The official would not give a breakdown for December.
Housing costs
In November, housing costs rose 7.34 per cent, and food, beverage and tobacco costs 9.3 per cent, the data showed.
Inflation in Bahrain was 2.05 per cent in 2006, according to central bank data.
The government has set aside 40 million dinars ($106.4 million) to help its citizens cope with a rise in the price of basic goods, the official news agency said this month.
Business Editor's choice
-
Do unemployment figures flatter to deceive?
Jobseekers and recruiters give out mixed signals ranging from optimism to downright despair even as official data show recovery
-
Banks can increase their share
Longer opening hours, more locations outside cities and lower charges can help
-
Geepas idea blossomed in Dubai
The journey led from a small shop in Bahrain to a $1.27b company in the UAE
