Saudi Arabia: Inflation falls to lowest level since December 2023 in June
Inflation eased to 1.5% in June, following May’s 1.6%. June’s figure marked the lowest inflation rate since December 2023. Looking at the details of the release, prices for food and non-alcoholic beverages increased at a weaker rate in June. In contrast, prices for clothing and footwear dropped at a slower pace.
In addition, the trend pointed down mildly, with annual average inflation coming in at 1.7% in June (May: 1.8%).
Lastly, consumer prices increased 0.14% in June over the previous month, a smaller increase than May’s 0.16% rise. June’s result marked the weakest reading since March.