Low education and housing prices make Saudi inflation close to zero

The data of the Saudi General Authority for Statistics showed indicators that reflected the significant decline in education and housing prices in Saudi Arabia, which pushed inflation rates to near zero in August.

Contrary to the trends of the global high inflation rate, the consumer price index in Saudi Arabia slowed down in August to 0.3% on an annual basis.

The inflation rate in August stood at 0.1% on a monthly basis, with the largest contributor to the slowdown in inflation being the declines in education prices, specifically the decline in the prices of pre-primary and primary education, and middle and secondary education.

Among the inflation sub-indicators, the education department decreased by 7.8%, affected by decreases in the prices of pre-primary and primary education by 13.4%, and middle and secondary education by 7.2%.

The housing, water, electricity, gas and other fuels section also recorded a 3.5% decrease, affected by a 4.2% drop in housing rental prices.

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