Prices of Saudi food, construction materials fell in July

Prices of 53 food products in Saudi Arabia registered a year-on-year (YoY) fall in July, while prices of 29 other commodities rose, official data issued by the Saudi General Authority for Statistics showed.

Indian pomegranate saw the biggest drop of 14.08 percent YoY, while prices of soft drinks jumped the most— by 42.6 percent.

Prices of feedstock and animals also declined during July.

The prices of eight non-food commodities increased, with Marlboro cigarettes rose the most—by 100 percent. Last month, Saudi Arabia started implementing the selective tax on tobacco products by 100 percent.

Six daily household products saw prices drop. Loose garment, for example, fell by 2.55 percent.

Elsewhere, prices of most construction materials slid. Price of steel rebars saw the biggest decline of 17.28 percent, while prices of Chinese cables dropped the most by 25.56 percent.

Demand for construction materials has fallen in the kingdom as the sector continued to face an ongoing slowdown due to tighter government spending amid slumping oil prices.