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Investing.com -- Saudi Arabia’s inflation rate accelerated to 2.3% in June compared to the same month last year, edging up from 2.2% in May, according to government data released Tuesday.
The inflation rate has remained within a narrow range of 2% to 2.3% since the beginning of 2024, primarily driven by increases in housing rents. In June 2023, inflation stood at 1.5%.
The General Authority for Statistics reported that housing rents increased by 7.6%, with villa prices rising by 7.1%. These housing costs were the main factor pushing the combined category of housing, water, electricity, gas and other fuels up by 6.5%.
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