Saudi Arabia’s Inflation Slows for Third Month in a Row

The inflation rate in Saudi Arabia slowed for the third consecutive month to 2% in August 2023 from 2.3% in the previous month.

According to the report released by the Saudi General Authority for Statistics, one of the key contributing factors to the decrease was the fall in prices of furnishings, household equipment, and maintenance, which experienced a decline of 0.3% in August compared to July.

Furthermore, the data revealed that clothing and footwear prices dipped by 0.3% during the same period, while expenses related to restaurants and hotels saw a slight uptick of 0.6%.

Source: Qatar News Agency

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