{"id":9120,"date":"2023-04-13T13:08:52","date_gmt":"2023-04-13T13:08:52","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/saudi-inflation-eases-in\/"},"modified":"2023-04-13T13:11:53","modified_gmt":"2023-04-13T13:11:53","slug":"saudi-inflation-eases-in","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/saudi-inflation-eases-in\/","title":{"rendered":"Saudi inflation eases in March to 2.7% &#8211; govt data"},"content":{"rendered":"<p>DUBAI (Reuters) &#8211;     Saudi Arabia&#8217;s annual inflation rate eased to 2.7% in March from 3% in February, government data showed on Thursday, driven mainly by an increase in housing rents.<\/p>\n<p>Housing, water, electricity, gas, and other fuels rose 7.4% from a year earlier. <\/p>\n<p>Overall rents for housing increased by 8.7% in March from a year earlier, driven by a 22% increase in rents for apartments, and served as the biggest driver of inflation due to their relative high weighting of 21% in the Saudi consumer basket. <\/p>\n<p>Food and beverage prices, which were the main driver of inflation during much of 2022, rose 2.3% from the same period a year earlier, while restaurants and hotel prices increased 6.3%.<\/p>\n<p>However, compared to February, consumer prices increased by 0.1%, the General Authority for Statistics said, with housing, water, electricity, gas, and other fuels prices up by 0.4%, driven by an increase in rental costs.<\/p>\n<p>In a research note last month, Abu Dhabi Commercial Bank said it sees a decelerating trend in inflation in Saudi Arabia over the coming months on the basis of &#8220;easing of global supply-side costs, the impact of higher interest rates on consumer demand and a strong base from the second half of 2022.&#8221; <\/p>\n<p \/>\n<p> (Reporting by Rachna Uppal; Editing by Bernadette Baum)<\/p>\n<p><a href=\"http:\/\/lynettelockhart.com\/client\/saudi-inflation-eases-in\/a-saudi-woman-shops-for-ramadan-decorations-to-mark-the\/\"><img decoding=\"async\" src=\"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportEconomy\/tagreuters.com2023binary_LYNXMPEJ3C0I8-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ3C0I8-VIEWIMAGE\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>DUBAI (Reuters) &#8211; Saudi Arabia&#8217;s annual inflation rate eased to 2.7% in March from 3% in February, government data showed on Thursday, driven mainly by an increase in housing rents. Housing, water, electricity, gas, and other fuels rose 7.4% from a year earlier. Overall rents for housing increased by 8.7% in March from a year [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":9121,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1216],"tags":[1223],"class_list":["post-9120","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-economy","tag-updated"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportEconomy\/tagreuters.com2023binary_LYNXMPEJ3C0I8-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/9120","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=9120"}],"version-history":[{"count":1,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/9120\/revisions"}],"predecessor-version":[{"id":9122,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/9120\/revisions\/9122"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/9121"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=9120"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=9120"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=9120"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}