19 Hrs
Source:
الاقتصادية
Saudi inflation steadies at 1.8%
Inflation Rate in Saudi Arabia Remains at 1.8% in July, Same Level for the Third Consecutive Month The inflation rate in Saudi Arabia continued at 1.8% in July, maintaining this level for the third consecutive month. There was a slowdown in the housing and electricity sectors, which recorded the lowest rate of rent increases in 45 months at 4.3%. Government measures, including the freeze on rent increases in Riyadh for five years, reflect efforts to restore balance to the real estate sector following a rise in land and rental prices over the past years. The Ministry of Finance expects inflation to stabilize around 2% during 2024 and 2025, with housing rent growth continuing to slow. Reports warn that inflation remains under control despite having spiked during certain periods in the past.
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