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Saudi inflation eases further in July to 2.3%
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Saudi Arabia's annual inflation rate eased for a second consecutive month to 2.3% in July from 2.7% in June, government data showed on Tuesday. The rise in prices was mainly driven by an 8.6% jump for housing, water, electricity, gas and other fuels and a 1.4% increase in food and beverages, the General Authority for Statistics said.
Prices of housing, water, electricity, gas and other fuels were up 0.3% from June, when it notched a 9.1% annual rise. Food and beverage prices were 0.4% higher compared to June.
Prices for clothing and footwear dropped 3.9% in July from a year earlier, easing 0.8% from June. Furnishings, household equipment and maintenance fell 2.5% year-on-year and 0.3% from June.
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