Saudi Arabia inflation remains at 1.6 per cent in May

Saudi Arabia’s annual inflation rate remained at 1.6 per cent for the third month running in May, government data showed on Sunday, with higher housing rents still the main driver.

Housing rents rose 10.5 per cent from a year earlier underpinned by a 14.3 per cent rise in apartment rents, according to the General Authority for Statistics.

Overall, prices in the subcategory of housing, water, electricity, gas and other fuels rose 8.7 per cent from the previous year.

Food...