GASTAT: Saudi Inflation Slows in May

Saudi Arabia’s annual inflation slowed to 2.2 % in May, from 2.3 % in April, according to the General Authority for Statistics, also known as GASTAT. Food and beverages, as well as transport, having high relative importance in the Saudi basket, were the main drivers of the Saudi inflation in May, a press release from GASTAT said.

The May inflation came in lower at 2.24 %, below the expected 2.5 % in a Bloomberg poll. On a month-on-month basis, general CPI increased 0.1 %, according to GASTAT.