Saudi Arabia: Inflation declines to lowest level since February in July
Latest reading: Inflation inched down to 2.1% in July, edging down from June’s 2.3%. July’s figure marked the weakest inflation rate since February. Looking at the details of the release, prices for food and non-alcoholic beverages rose at a quicker pace in July. Meanwhile, housing and utilities price growth moderated.
Annual average inflation remained at June’s 2.0% in July.
Finally, consumer prices were flat in July over the previous month, below June’s 0.18% increase. July’s result marked the weakest reading since March 2024.