Inflation slows to 3.0% Y-o-Y in September, lowest in 2016
Saudi Arabia's annual consumer price index (CPI) inflation slowed to 3.0% Y-o-Y in September from 3.3% Y-o-Y in August. Food and beverages prices fell to 1.3% Y-o-Y in September after falling 1.0% Y-o-Y in August. Housing and utility costs decelerated to 6.7% Y-o-Y from 7.0% Y-o-Y in August, as fee hike imposed last December continued to phase out. Transportation costs slowed to 7.8% Y-o-Y from 8.5% Y-o-Y in August, also as gasoline price hike imposed last December continued to ease. On a monthly basis, CPI inflation remained largely steady in September. Food and beverage prices grew to 0.3% M-o-M in September after falling 0.2% M-o-M in August. Housing and utility costs dropped 0.1% M-o-M after growing 0.1% M-o-M in August. Transportation costs declined 0.2% M-o-M after declining 0.3% M-o-M in August. (CDSI)
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