Libya's elected parliament, the House of Representatives, asked Abdullah al-Thinni on Monday to form new government for the oil-producing country, a parliamentary spokesman said. Thinni, a former defence minister and career soldier, has been prime minister since March but his position has been challenged by a rival parliament that refuses to recognize the House of Representatives. Libya is descending into anarchy as former rebels who helped topple Muammar Gaddafi in a NATO-backed uprising in 2011 have turned their guns on each other, seeking to set the country's political agenda and control its vast oil reserves. "The House has reappointed Abdullah al-Thinni today as the prime minister, asking him to form a crisis government within a period of time not exceeding two weeks," the spokesman said.
Fund managers said the rising cost of housing - which accounts for as much as a third or more of various measures of inflation and is outpacing other consumer cost increases - has revived price pressure in the economy. "TIPS have had a good tail wind this year.