FINANCIAL NEWS

Saudi inflation rates slow in July by 3.8pct

05 Sep 2016

(MENAFN) Saudi Arabia food inflation slowed in July for the first time since the beginning of 2010.

Moreover, the kingdom faced a deceleration in prices to 3.8 percent year-on-year compared to 4.1 percent in June.

Accordingly, core inflation, which involved food and rent and other housing services also slowed in the same month, reaching 3.9 percent.

On the other hand, the contribution of housing prices to overall increased to 49.4 percent, while core inflation saw its contribution drop to 51 percent.

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