Saudi Wholesale Price Index increases by 1.2% in December 2024

The Kingdom’s wholesale price index rose on an annual basis by 1.2% in December 2024 compared to its counterpart in 2023. This increase is mainly attributed to a 2.4% increase in the prices of other transportable goods, affected by a 12.0% increase in refined petroleum products, and prices of furniture and other transportable goods, n.e.c. by 7.9%.

Increase of other transportable goods in December 2024

On an annual basis, other transportable goods, except metal products, machinery, and equipment section, recorded, on an annual basis, a 2.4% increase in prices in December 2024 compared to December 2023, due to a 12.0% increase in refined petroleum products. Meanwhile, the prices of furniture and other transportable goods n.e.c. rose by 7.9%.

In the same context, the prices of agriculture and fishery products rose by 3.2% due to a 5.3% increase in the prices of agricultural products.

The prices of fish and other fishing products rose by 1.9%.

On the other hand, the prices of food products, beverages, tobacco, and textiles decreased by 0.1%, due to a 2.7% decrease in the prices of meat, fish, fruits, vegetables, oils and fats, and dairy products by 1.6%.

The prices of metal products, machinery and equipment did not record any significant relative change in December 2024.

Stability of wholesale prices in December 2024 compared to November 2024

On a monthly basis, the wholesale price index witnessed a slight increase of 0.2% in December 2024, similar to what was recorded in November. This was due to a 0.5 % increase in the prices of other transportable goods, except metal products, machinery, and equipment, as a result of a 3.5% increase in the prices of basic chemicals and 0.5% increase in the prices of glass and non-metallic products.

In the same context, the prices of food products, beverages, tobacco, and textiles increased by 0.3 %, as a result of a 1.2% increase in the prices of meat, fish, fruit, vegetables, oils and fats, and a 0.2% increase in the prices of textile articles other than apparel.

The prices of agriculture and fishery products rose by 0.1%, due to a 2.9% increase in the prices of fish and other fishing products and a 0.1% increase in the prices of agricultural products. Also, the prices of ores and minerals rose by 0.2%, due to a 0.2% increase in the prices of stones and sand.

On the other hand, the prices of metal products, machinery and equipment decreased by 0.1%, due to a 0.5% decrease in the prices of essential metals and a 0.5% decrease in the prices of general-purpose machinery.