Saudi Arabia: Inflation falls in July
August 21, 2016
Consumer prices rose 0.1% in July compared to the previous month, which was down from the 0.3% reading recorded in June. July’s deceleration mainly reflected lower prices for food and construction products.
Inflation came in at 3.8% in July, which was below June’s 4.1% print. Inflation remains at high levels due to cuts in subsidies for energy and some utilities that had been implemented early in the year. Annual average inflation in July rose from June’s 3.2% to 3.4%, the highest rate in over two years.