Saudi inflation remains contained at 1.8% in May: GASTAT

RIYADH: Saudi Arabia’s annual inflation rate edged up to 1.8 percent in May with housing rents continuing to drive price gains in the Kingdom, official data showed. According to the latest report released by the General Authority for Statistics, the Kingdom’s Consumer Price Index edged up 0.2 percent month on month in May, reflecting moderate increases across several categories, including food, housing and transportation. Compared with neighboring Gulf economies, Saudi Arabia’s inflation rate remained relatively contained.

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