Rental prices main driver of Saudi inflation in December 2024 compared to December 2023

The section of the housing, water, electricity, gas and other fuels section increased by 8.9%, which was affected by the increase in rents paid for housing by 10.6% in December 2024 due to the increase in villa rental prices by 9.9%. The increase in this section had a significant impact on the continuation of the annual inflation pace for December 2024 due to the weight formed by this section, which amounted to (25.5%).

Food and beverage prices increased by 0.8%, driven by a 2.9% increase in meat and poultry prices.

Similarly, personal goods and services prices increased by 2.2%, influenced by a 20.2% rise in jewelry, watches of all kinds and precious antiques prices. Prices of restaurants and hotels sector also rose by 0.9%, driven by a 2.3% increase in hotel and furnished apartment services prices.

Meanwhile, the education sector witnessed an increase of 1.1%, due to a rise in the fees of intermediate and secondary education by 1.8%.

On the other hand, prices of furnishing and home equipment decreased by 2.8%, influenced by a decline in furniture, carpets, and flooring prices by 5.1%. Similarly, prices of clothing and footwear decreased by 2.2%, influenced by a 4.2% decline in ready-made clothing prices.

Transportation prices also decreased by 2.5%, affected by a 3.9% decrease in vehicle purchase prices.