Prices of 7 commodity and service groups decreased during July

The Federal Competitiveness and Statistics Center reported a decrease in the inflation rate in consumer prices in the country, on an annual basis during last July, by 0.02% compared to the same month of the year 2020, as a result of a slight decrease in the prices of seven major commodity and service groups, coinciding with a significant increase in the corresponding groups. Others include “transportation,” “recreation and culture,” and “household equipment and appliances.”

The groups whose prices decreased, constituted 67.5% of the total consumer spending, while the groups whose prices increased constituted the remaining 32.5%.

The center explained, in the "July 2021 Inflation Report", which was issued today, and covers the change in the prices of 12 main consumer goods and services, that the general index reached 106.62 points last July, compared to 106.64 points in July 2020.

The report indicated that the decrease in annual inflation came as a result of the decrease in the prices of seven main commodity and service groups: housing, water, electricity and gas group, whose prices fell by 4.3% and constituted 34.1% of consumer spending, in addition to the group of food and beverages whose prices fell by 1.5% and constituted 14.3% of Consumer spending.

The prices of clothes and shoes decreased by 8.8% and constitute 3.2% of spending, in addition to a decrease in the prices of restaurants and hotels by 0.3% and constitute 4% of the volume of spending.

The prices of the communications group also decreased by 0.04%, which constitutes 5.4% of spending, in addition to a decrease in the prices of the tobacco group by 0.01%, which constitutes 0.3% of spending, and the prices of a group of miscellaneous goods and services decreased by 2.4%, which constitutes 6.2% of spending.

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