Saudi Arabia maintains deflation for 7M in July 2019

Saudi Arabia’s inflation, based on consumer price index (CPI), remained in the negative territory for the seventh month in July 2019, dropping 1.3 percent on an annual basis, according to latest figures from the General Authority for Statistics (GASTAT).

The consumer price index for July dropped to 106 points compared to 107.5 points a year-earlier.

*Updated for base year 2013

Prices of four main groups in the CPI basket declined in July 2019. Housing, water, electricity, gas and other fuels fell 6.7 percent year-on-year. The group accounts for 25.38 percent of the overall CPI index.

It was followed by communication (-0.6 percent), recreation and culture (-0.4 percent) and clothing and footwear (-0.3 percent).

Meanwhile, transport, and restaurants and hotels rose 1.6 percent and 1.5 percent YoY, respectively.