Price increases were driven by higher rental costs and basic services such as water, electricity, and gas.
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Annual price inflation fell to 12.8% in February, down from 24% in January. Vegetable prices saw an 8.2% drop, while costs for water, electricity, and gas remained stable.
House price increases in the fourth quarter of 2024 was 3.1%. Overall, the expansion was 3.6%. In capital Riyadh the average price rose by 10.2%.
Inflation is declining, while the country cuts subsidies in a bid to battle a budget deficit.
Central Bank expects inflation to fall below year-on-year 7% in the second half of 2024 and continue to gradually ease.
Gulf Cooperation Council Statistical Center projects a higher price rise this year compared to 2020.
The Extended National Consumer Price Index (IPCA) changed by 4.31%, above the Central Bank’s goal of 4.25%, but within its tolerance margin.
Banks reduced their inflation forecast for the tenth straight time.
Price index recorded a year-on-year 1.1% decrease.
Last month saw lower price raises than July, IBGE reported.
According to IBGE, this was the greatest change for the month of May since 2016.
Extended National Consumer Price Index increased to 0.75%. It was the highest rate for March since 2015.
The Extended National Consumer Price Index (IPCA) slid by 0.21% as it dropped to its lowest for the month since 1994. Transportation and Housing saw the sharpest drops in prices.
Brazil’s IPCA-15 index is up 0.09% in October from September.
