Jadwa Investment confirmed that prices in the ”Housing and Utilities“ continued to decline in August, as a result of a 4.2% year-over-year decrease and a 0.2% month-over-month decrease in the ”Residential Rents“ subcategory.

It added that the Consumer Price Index (inflation) rose in August by 0.3% year-over-year and by 0.1% month-over-month. Within the Consumer Price Index, prices in the ”Food and Beverages“ category rose by 1.9% year-over-year and by 0.8% month-over-month. Similarly, prices in the ”Transportation“ category rose by 6.5% year-over-year, despite a 0.3% decline month-over-month.

According to “Jadwa,” new residential mortgages for individuals surged in August, rising by 32%, year-over-year, and by 55% month-over-month, following two year-over-year declines in both June and July.

It added that cement sales and production in August fell by 4.7% and 2.9%, year-over-year, respectively. However, both rose on a month-over-month basis, increasing by 12% and 13.4%, respectively.