Saudi inflation falls to 2.7% year-on-year in March

Saudi Arabia’s inflation rate slowed down to 2.7 percent on an annual basis in March, down from 3 percent in February and 3.4 percent in January of this year, according to latest report released by the General Authority for Statistics.

Rental prices were the biggest influence on the increase in inflation due to their weight in the index 21 percent, while housing rents jumped by 8.7 percent, affected by the increase in apartment rental prices by 22 percent.

However, prices of food and beverages went up by 2.3 percent year-on-year, while transport prices edged up by 1.8 percent, the report added. While, household equipment and maintenance prices also fell by 0.5 percent in March.