CAIRO/RIYADH (Reuters) -Saudi Arabia’s annual inflation charge remained at 1.6% for the third month working in Might, authorities knowledge confirmed on Sunday, with larger housing rents nonetheless the principle driver.

Housing rents rose 10.5% from a yr earlier underpinned by a 14.3% rise in condo rents, in line with the Basic Authority for Statistics.

Total, costs within the subcategory of housing, water, electrical energy, gasoline and different fuels rose 8.7% from the earlier yr.

Meals and beverage costs rose 1.4% yr on yr, whereas costs for resorts and eating places rose by 2.5% pushed by a 1.9% improve within the price of meals providers.

Costs of clothes and footwear fell 4% from the earlier yr, and car buy costs dropped 4.1% to carry general transportation prices down by 2.4%.

On a month-to-month foundation, costs rose 0.2% in Might from April.

At under 2% yr so far, inflation has remained comparatively subdued in Saudi Arabia in contrast with international ranges, with authorities insurance policies serving to restrict the impression of worldwide price will increase.