ALBAWABA – The annual Saudi inflation rate slowed down for the third month in a row since February, having stabilized at 2.7 percent since March, according to Bloomberg.
On the other hand, the price index for housing, water, electricity, gas and other energy sources marked an increase by 8.1 percent. Whereas food and beverages also jumped by 0.1 percent, Al Eqtisadiya reported.
Overall rent grew by 9.6 percent for housing in April and 22.2 percent for apartments in March, as reported by Reuters.
A statement by the General Authority for Statistics showed that the consumer price index increased in April by 0.4 percent compared to March.
Reuters predicted that inflation for the Gulf Cooperation Council (GCC) region will range from 2.1 percent to 3.3 percent for the year 2023 and that it will further decline in 2024.
