Riyadh – Mubasher: Inflation in Saudi Arabia declined 0.6% in the second quarter of 2017 compared to the year-ago period.
Quarter-on-quarter, inflation increased 0.2%, according to a new report by the Saudi Arabian Monetary Agency (SAMA).
The tobacco segment recorded the highest increase, surging 24.8% year-on-year in Q2-17, while the telecom sector grew 2%, followed by education with 1.8%, and staples and diversified services with 1.3%, the report showed.
On the other hand, food and beverages declined 2.3% in Q2-17 compared to the year-ago period, while transport, and clothing and footwear decreased 1.9% each.
A report by the General Authority for Statistics (GASTAT) showed a decline in the consumer price index (CPI), a measure of inflation, for June 2017 by 0.4% compared to the same month in 2016, resulting in a deflation for the sixth month in a row.
