The dollar today reached 6 months low versus the Euro in a further sign that the dollar is getting debased basically by the fed. the Dollar fell 8.3% versus the Euro, Gold is at $1,319 per Ounce today, and the Yen is back at the 83 Yen per Dollar level - by the way; the Japanese government refuses to learn that it is absolutely useless to intervene in a highly floated currency market such as the one for the Yen.
Additionally, inflation in the GCC is picking up real fast. Inflation was reported at 4% in Kuwait and above 5% in Saudi! while Qatar and the UAE were still down but that is do to the still declining housing costs in the two countries. ّIn Kuwait and KSA there wasn't much of housing costs decline; therefore the impact of food costs was more visible. In Kuwait, tomatoes have reportedly increased over 4 times in about 3 weeks. while that's not all due to the weaker Dollar as there are supply factors affecting that as well. But tomatoes are just one example - look at table below:
From Alqabas Newspaper (Link)
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