Riyadh – Mubasher: Saudi Arabia’s consumer price index (CPI), which is known as inflation, declined by 1.3% year-on-year in July, according to data released by the General Authority for Statistics (GASTAT).

The Saudi inflation rate retreated to 106 points last month, from 107.5 points in the same month a year earlier, data showed on Tuesday.

On a monthly basis, inflation rate inched up by 0.1% by the end of July, compared to 105.9 points in June.

The kingdom’s state-run statistics agency attributed the CPI drop in July to a 6.7% decrease in the prices of housing, water, electricity, and gas group, followed by the entertainment group.