Saudi Arabia’s inflation eases to 2.3% in July 2023

Saudi Arabia’s inflation slowed down to a year-long low of 2.3 percent in July, compared with 2.7 percent in the previous month, the Consumer Price Index (CPI) report, issued by the General Authority for Statistics (GASTAT), on Tuesday.

GASTAT’s report showed that the furnishings, household equipment, and maintenance prices fell by 2.5 percent, while clothing and footwear prices declined by 3.9 percent.

The report further pointed out that water, electricity, gas and other fuels prices had risen by 8.6 percent, and food and beverage prices had increased by 1.4 percent.