Saudi Arabia’s inflation rate eases in June: Official data

Saudi Arabia’s annual inflation rate eased to 2.7 percent in June from 2.8 percent the previous month, government data showed on Sunday.

Prices for housing, water, electricity, gas, and other fuels rose by 9.1 percent overall in June compared with the same month last year, while restaurant and hotel prices were up by 4.3 percent and education up by 3 percent, the Kingdom’s General Authority for Statistics data said.

On the other hand, prices for clothing and shoes fell 2.9 percent, communication costs were down by 0.7 percent, and miscellaneous personal goods and services by 0.1 percent.

Inflation in Saudi Arabia has been on a downward trend since starting the year at a rate of 3.4 percent in January.