GASTAT: Inflation in Saudi Arabia keeps decline, recording 2.9% in ‎November

The General Authority for Statistics (GASTAT) revealed that inflation in Saudi Arabia recorded a decline of 2.9% in November 2022, compared to last October, which was 3%.

The inflation rate in Saudi Arabia slowed down last November for the second month in a row, on a monthly basis, to 3% in October 2022, compared to 3.1% in September 2022.

In a statement today, Thursday, the authority attributed the rise in the inflation rate during last November, on an annual basis, to the increase in the prices of housing, water, electricity, gas and other fuels by 4.7% and the prices of food and beverages by 3.5%.

The housing, water, electricity, gas and other fuels section recorded an increase of 4.7%, affected by the increase in rental prices paid for housing by 5.4%, which in turn was affected by the increase in apartment rent prices by 15.7%. The increase in this section had a significant impact on the rise in annual inflation in November. The past due to its relative weight in the index of 25.5%

The food and beverage section was affected by the increase in food prices by 3.6%, which in turn was affected by the increase in the prices of meat and poultry by 4.5%.

The consumer price index for November 2022 recorded a marginal increase of 0.1% compared to October 2022. The monthly inflation index was affected by the increase in the housing, water, electricity, gas and other fuels section by 1.4%, which in turn was affected by the increase in the prices of paid rent for housing by 1.6%.