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Saudi Arabia’s inflation slows slightly to 1.9% in December

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Saudi Arabia’s inflation slows slightly to 1.9% in December

Riyadh, January 16, 2025 (Saudi Arabia Breaking News) – Saudi Arabia’s inflation rate fell slightly to 1.9% in December from 2% in November, according to government data released on Wednesday.

 

Inflation in Saudi Arabia has hovered between 1.5% and 2% for most of the year, with housing rents the main driver of price pressures.

 

Rents for housing increased by 10.6% in December, with villa rental prices rising by 9.9%, the General Authority for Statistics said, which was the primary reason for prices for the combined housing, water, electricity, gas and other fuels category climbing by 8.9%.

 

Inflation in the kingdom has remained relatively low compared with global levels, and the International Monetary Fund expects Saudi inflation to remain stable at about 2% over the medium term.

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