Annual inflation in Saudi Arabia recorded 3.3% in December

Today, Sunday, the data of the General Authority for Statistics in Saudi Arabia showed that the consumer price index (inflation rate) for December 2022 increased by 3.3% compared to the same month of 2021.

The inflation rate in Saudi Arabia increased in December from the level of 2.9% recorded in November 2022.

In a statement today, Thursday, the authority attributed the rise in the inflation rate during last December, on an annual basis, to the increase in the prices of housing, water, electricity, gas, and other fuels by 5.9%, and the prices of food and beverages by 4.2%.

The housing, water, electricity, gas and other types of fuel section recorded an increase affected by the increase in rental prices paid for housing by 6.8%, which in turn was affected by the increase in apartment rent prices by 18.1%. The increase in this section had a significant impact on the annual inflation increase last December due to its relative weight in the index. amounting to 25.5%.

The Food and Beverages section was affected by the increase in food prices by 4.3%, which in turn was affected by the increase in the prices of meat and poultry by 5.9%.

The consumer price index for December 2022 recorded a marginal increase of 0.3% compared to November 2022. The monthly inflation index was affected by the increase in the housing, water, electricity, gas and other fuels section by 0.9%, which in turn was affected by the increase in rental prices paid for housing by 1.1%.