Saudi inflation accelerates to 2.4 percent in October on food costs

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DUBAI (Reuters) – Saudi Arabia’s annual inflation rate rose to 2.4 percent in October from 2.1 percent in September, largely because of a faster increase in food prices, official data showed on Wednesday.

Food and beverage prices jumped 7.3 percent from a year earlier in October, after a gain of 6.7 percent in September. Housing and utility costs dropped 3.6 percent, after a 3.2 percent fall in the previous month.

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