Saudi Arabia deflation eases to 0.1% Y-o-Y in February
Consumer Price Index (CPI) deflation eased to 0.1% Y-o-Y in February, from 0.4% in January. The general index, however, rebounded on a monthly basis, with prices accelerating 0.3% M-o-M after falling 0.2% in the previous month. Food and beverages prices dropped 3.4% Y-o-Y compared to a drop of 4.2% Y-o-Y in January and grew 0.5% M-o-M after falling 0.6% M-o-M in January. Housing and utility cost accelerated to 1.4% Y-o-Y from 1.2% in January, and jumped 0.4% M-o-M after dropping 0.2% M-o-M in January. Transportation costs declined 2.7%, slower than 3.1% Y-o-Y drop in January, but grew 0.4% M-o-M after falling 0.6% in January.
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