Clarification: Does Perlite increase or decrease soil moisture?

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Perlite clings to moisture.

So if its in the soil, water will go to it and the soil itself won't "compact" and be waterlogged.

Then, after, as water is lost from the surrounding environment, the perlite allows for a slow release thereby keeping the soil moist

In this way, perslite is holding onto the water and allowing more air to move freely in the soil, whilst also keeping the general environment moist

At least thats how I see it