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Saudi Arabi’s CPI up 2.2% YoY in May

Saudi Arabi’s CPI up 2.2% YoY in May

Arab Finance: The consumer price index (CPI) of Saudi Arabia rose by 2.2% year-on-year (YoY) in May 2022, however, it came below April’s inflation rate of 2.3%, the General Authority for Statistics revealed in a report released on June 15th.

The increase in annual inflation was mainly driven by the 4.2% growth in food and beverage prices in May, which inched up 0.2% from the previous month.

Transport prices rose by 4% YoY, while the prices of personal goods and services increased by 2.1%.

On the other hand, the prices of clothing and footwear fell by 1.7% YoY last May.

 

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