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Saudi Arabian Inflation Eases to Slowest in Almost Three Years

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Aug. 12 (Bloomberg) -- Saudi Arabia’s inflation rate fell to its lowest in almost three years as increases in the costs of food eased.

Inflation slowed to 4 percent in July, compared with 4.9 percent in the previous month, the Central Department of Statistics said on its website today. Food prices increased 4 percent, down from 4.7 percent in June.

The Saudi Arabian Monetary Agency said in a report on its website today that inflationary pressures in the kingdom, the Arab world’s largest economy, are expected to stabilize in the third quarter as global increases in food costs slow and inflation in other countries eases.

To contact the reporter on this story: Rinat Gaynullin in Moscow at rgaynullin1@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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