Saudi Arabia’s annual inflation rate fell for the second consecutive month to 2.3 percent in July from 2.7 percent in June, government data showed on Tuesday.
The General Authority for Statistics said the price hike was mainly due to an 8.6 percent jump in the prices of housing, water, electricity, gas and other fuels and a 1.4 percent increase in food and beverage prices.
Prices of housing, water, electricity, gas and other fuels rose 0.3 percent from June, when they rose year-on-year by 9.1 percent. Food and beverage prices rose 0.4 percent from June.
Prices of clothing and footwear fell 3.9 percent in July year-on-year and 0.8 percent month-on-month. Prices of furnishing and home fit-out fell 2.5 percent year-on-year and 0.3 percent month-on-month.
Inflation in Saudi Arabia has been declining since the start of the year, when it hit 3.4 percent in January.
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