Tuesday, October 15, 2024
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Inflation in Saudi Arabia recorded 1.7% in September on an annual basis

Inflation in Saudi Arabia recorded 1.7% in September on an annual basis

According to data from the General Authority for Statistics, the housing, water, electricity, gas and other types of fuel sector rose by 9.3 percent, which was affected by the increase in housing rents by 11.2 percent in September. The rise in this sector had a significant impact on the continued pace of Inflation Annually, due to the sector’s weight in the index, which amounts to 25.5 percent.

Food and beverage prices increased 0.8 percent, and the restaurants and hotels division rose 1.7 percent, affected by the 1.5 percent increase in prices for catering services.

The education department rose 1.6 percent.

On the other hand, transportation prices fell by 3.3 percent, benefiting from a 4.5 percent drop in vehicle purchase prices.

On a monthly basis, inflation rose 0.1 percent, affected by a 0.6 percent increase in housing, water, electricity, gas and other fuel prices.

Food and beverage prices increased 0.3 percent on a monthly basis compared to August, while transportation prices decreased 0.4 percent.



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