Saudi consumer prices fall in May compared to last year
Saudi Arabia's consumer prices fell in May from a year earlier for the fifth month in a row, but the consumer price index (CPI) rose marginally from April, signaling that the kingdom is having some success in boosting its non-oil sector. Government data showed on Wednesday that the CPI index fell 1.5% in May on an annual basis and was up 0.1% from April, data from the General Authority for Statistics showed. The annual CPI decline has partly reflected the fading impact of last year's introduction of a value-added tax (VAT).
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