Saudi Arabia: Inflation moderates in May
Consumer prices dropped 0.4% from the previous month in May, falling from April’s 0.2% decrease. The drop largely reflected lower prices for housing, water, electricity and gas; clothing and footwear; and food. No category posted higher prices in May.
Inflation eased to 2.3% in May from 2.6% in April. Meanwhile, the annual average variation in consumer prices rose from 0.3% in April to 0.6% in May, the strongest print in one year.