Inflation slows to 2.6% Y-o-Y in October, new record low in 2016
Saudi Arabia's annual consumer price index (CPI) inflation slowed to 2.6% Y-o-Y in October from 3.0% Y-o-Y in September. Food and beverages prices fell to 2.1% Y-o-Y in October after falling 1.3% Y-o-Y in September. Housing and utility costs slowed to 6.5% Y-o-Y from 6.7% Y-o-Y September, as fee hike imposed last December continued to phase out. Transportation costs slowed to 7.3% Y-o-Y in October from 7.8% Y-o-Y in September, also as gasoline price hike imposed last December continued to ease. On a monthly basis, CPI inflation fell 0.1% in October after it was largely steady in September. (CDSI)
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