The annual inflation rate in Saudi Arabia continued its downward trend for the second month in a row, reaching 2.3% in July. This figure marks a slight decrease from the 2.7% recorded in June, according to data released by the government.
The decrease in the inflation rate can be attributed to various factors, including a decline in the cost of transportation and housing. The easing of inflationary pressures is positive news for Saudi Arabia’s economy, as it helps stabilize prices and supports consumer purchasing power.
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