Riyadh – Mubasher: Saudi Arabia’s inflation declined by 1.1% year-on-year during August 2019, rising 0.1% month-on-month, according to the General Authority for Statistics (GAS).
The consumer price index (CPI) of the kingdom inched up to 106.1 points in August, compared to 106 points, a month earlier.
The oil-rich country’s inflation was affected by the decline in the prices of housing, water, electricity, and gas, along with the decrease in the prices of telecommunication, entertainment, and cultural services, GAS’ data showed.
Saudi Arabia’s foreign reserve assets increased by 2.7%, or SAR 49.6 billion, quarter-on-quarter, to reach SAR 1.913 trillion in the second quarter of 2019. The kingdom’s foreign assets rose by 1.5% year-on-year.
