A group of Saudi Muslim clerics has issued a rare warning to Saudi leaders that they must take action to curb rising inflation, which has prompted public anger at the absolute monarchy.
A near five-fold increase in oil prices over the past five years has helped the government log large budget surpluses, but Saudis are feeling the pinch from a surge in prices of basic foodstuffs in recent months mainly due to a fall in the US dollar to which the riyal currency is pegged.
Annual inflation accelerated to 5.35 percent in October, its highest in at least 10 years and Saudis are looking to their rulers to take action, but the dollar peg forces central banks in the oil-exporting region to track US monetary policy.
In Internet forums where they can express views with anonymity, Saudis have blamed the US-allied government's insistence on pegging the riyal to the US dollar.
"We direct this message to the rulers and officials: we remind you of Prophet Mohammad's words that you are shepherds who are responsible for your flock," the group of 19 well-known clerics, including Nasser al-Omar, said in a statement.
Comments
Comments are closed.