Riyadh – Mubasher: Saudi Arabia’s consumer price index (CPI), which is known as inflation, extended its decline for the third straight month after falling by 2.1% year-on-year in March, according to data released by the General Authority for Statistics (GASTAT).
The Saudi inflation rate retreated to 105.6 points last month, from 105.7 points in the same month a year earlier, data showed on Wednesday.
On a quarterly basis, the kingdom’s CPI inched down 0.1% from February.
The Saudi state-run statistics agency attributed the CPI’s drop in March to an 8.1% decrease in the prices of housing, water, electricity, and gas group, as well as a 1.5% reduction in clothes and footwear group.
On the other hand, restaurants and hotels group grew 1.5%, followed by the food and beverage group which increased by 1.2%.
