Saudi Arabia's annual rate of inflation edged down to 5.3 percent in April from 5.4 percent in March, mainly due to lower food prices, data from the Central Department of Statistics and Information showed Thursday. Rent, fuel and housing-related services rose 9.2 percent in April from a year earlier, compared with an 8.9 percent jump in March. Food and beverage prices dropped 4.3 percent from a year earlier, compared with a 5.1 percent rise in March, the CDSI said on its website. On the month, rent, fuel and housing-related services gained 0.8 percent and food and beverage prices inched up 0.1 percent. The Saudi central bank has decided to keep its key interest rates unchanged in May, as inflation pressures remain under control. The Saudi Arabian Monetary Agency held its overnight reverse repo rate at 0.25 percent this month, and the benchmark repurchase rate at 2 percent, informed sources said.
