Inflation in Saudi Arabia stabilized at 2 percent year-on-year in February, for the second consecutive month.
Data released by the General Authority for Statistics showed a decline in housing rents, which represent a significant weight in the inflation index, and a slowdown in their growth rate, recording 8.5 percent from 9.7 percent in January. Conversely, the food and beverages sector, the second largest group influencing the inflation rate, grew to 1 percent in February from 0.8 percent in January. Prices of various personal goods and services increased by 3.9 percent, driven by a 26.7 percent rise in the prices of jewelry, watches, and antiques.
Source (Asharq Al-Awsat newspaper, edited)
