Slowing economy hits real estate prices
Inflation in Saudi Arabia fell to 4.1 per cent in August, the lowest level in more than two years. The drop is a result of slowing rental price rises.
According to data from the Central Department of Statistics, inflation fell from 4.2 per cent in July as a result of rental prices growing at an annualised rate of 13.1 per cent, down from 13.5 per cent the previous month.
Food and beverages rose 1 per cent, the same rate as July.
Inflation has fallen rapidly in the region because of slowing economies and falling commodity prices. In January, inflation in Saudi Arabia was 7.9 per cent.