Saudi Arabia: Inflation stabilizes in June
July 25, 2016
Consumer prices rose 0.3% in June compared to the previous month, which was up from the flat reading recorded in May. June’s figure mainly reflected higher prices for clothing and communication as well as for furnishings and households.
Inflation came in at 4.1% in June, which was in line with May’s 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 June rose from May’s 3.1% to 3.2%, the highest rate in over two years.