A Saudi woman wearing protective gloves shops at a supermarket, following the outbreak of the coronavirus disease (COVID-19), in Riyadh, Saudi Arabia May 11, 2020. REUTERS/Ahmed Yosri/File Photo Acquire Licensing RightsDUBAI, Aug 15 (Reuters) - Saudi Arabia's annual inflation rate eased for a second consecutive month to 2.3% in July from 2.7% in June, government data showed on Tuesday, its slowest in over a year. The July headline rate - the slowest since June last year -was below Capital Economics' forecast of 3.1% and a median expectation of 2.4% in a Reuters poll. Prices of housing, water, electricity, gas and other fuels were up 0.3% from June, when it notched a 9.1% annual rise. Inflation in Saudi Arabia has been on a downward trend since starting the year at a rate of 3.4% in January.

Source: The North Africa Journal August 15, 2023 14:22 UTC