RIYADH, 14 December 2007 — The Riyadh municipality has launched a system to track the prices of basic commodities under the orders of Riyadh Governor Prince Salman. The move to track prices of flour, sugar, rice, cooking oil, milk, meat and vegetables is aimed at monitoring inflation locally.
Prices in the Kingdom have gone up as the US dollar (with which the value of the riyal is linked) has weakened. As part of the indexing, all leading commercial establishments in the region are required to send the prices charged by them for various goods to the mayor’s office on a weekly basis, the Saudi Press Agency reported yesterday.
