Saudi Arabia’s inflation quickens on rising food costs

Saudi Arabia’s inflation quickens on rising food costs:

The rising cost of food and drink in Saudi Arabia helped push up the Kingdom’s inflation rate last month, though it still remained below its recent peak of 3 percent in January.

Consumer prices rose by 2.2 percent year-on-year in July compared to 2.1 percent in June, an increase driven by increasing food prices, particularly vegetables.

“The breakdown of the data showed that the slight rise in headline inflation last month was driven by a jump in food inflation,” read a note from Jason Tuvey, senior emerging markets economist at Capital Economics.