RIYADH: Inflation in oil powerhouse Saudi Arabia hit 9.6 percent in March, the highest level in more than two decades, according to figures published by the official SPA news agency on Sunday.
Sharp rises in rents and the price of food, drinks and services drove up inflation, SPA said.
The figure compared with year-on-year rate of 8.7 percent in February in the world s top oil exporter.
Kuwait, another major OPEC member, released figures this week showing that inflation raced to an all-time high of 9.53 percent in January, confirming a trend in the oil-rich Gulf states, including the United Arab Emirates and Qatar.
Inflation has been partly linked to the pegging of Gulf currencies, except Kuwait s, to the tumbling US dollar. -AFP
