Riyadh – Mubasher: Saudi Arabia’s consumer price index (CPI), which is known as inflation, declined by 1.5% year-on-year in May, according to data released by the General Authority for Statistics (GASTAT).
The Saudi inflation rate retreated to 105.7 points last month, from 107.3 points in the same month a year earlier, data showed on Wednesday.
The kingdom’s state-run statistics agency attributed the CPI drop in March to a 7.5% decrease in the prices of housing, water, electricity, and gas group, as well as a 1.3% reduction in entertainment group.
On the other hand, the food and beverage group increased by 1.8%, followed by the restaurants and hotels group that grew 1.5%.
