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Saudi Arabia’s May inflation dips to 5.1%

According to data by Saudi Arabia's Central Department of Statistics (CDS), the kingdom's annual inflation eased to a nine-month low of 5.1% in May, despite a slight rise in food and housing prices, Reuters has reported. Consumer prices slowed to 5.1% in May from 5.3% in the same month a year earlier, while monthly inflation remained unchanged from April at 0.2%, the data showed. The central bank said in a report that it expects inflationary pressures to continue in the second quarter. Last February, the CDS said it expected relative price stability or even a slight decline in inflationary pressures in the near term.