Saudi inflation rate ticks down

Saudi Arabia's annual inflation rate eased to 2.7 per cent in June from 2.8 per cent the previous month, government data showed on Sunday.

Prices for housing, water, electricity, gas and other fuels rose by 9.1 per cent overall in June compared with the same month last year, while restaurant and hotel prices were up by 4.3 per cent and education up by 3 per cent, the kingdom's General Authority for Statistics data said.

On the other hand, prices for clothing and shoes fell 2.9 per cent, communication costs were down by 0.7 per cent, and miscellaneous personal goods and services by 0.1 per cent.

Inflation in Saudi Arabia has been on a downward trend since starting the year at a rate of 3.4 per cent in January.