Saudi annual inflation steady at 1.8% in August: statistics authority

Saudi Arabia's annual inflation rate remained steady at 1.8% in August, according to official statistics. The Consumer Price Index (CPI) remained unchanged from July to August, recording a 1.8% increase year-on-year. The monthly rise was primarily due to a 0.2% increase in housing rents. Transport prices went up by 0.6%, while personal care and miscellaneous goods and services saw a 0.8% increase.

Conversely, food prices dropped by 0.1%, and accommodations fell by 0.4%. On an annual basis, housing rents increased by 3.9%, while personal care and miscellaneous goods rose by 3.5%. Other factors contributing to inflation included a 4.7% rise in holiday packages and a 14.4% increase in jewelry prices. Conversely, furniture and household equipment prices decreased by 0.6%, and clothing and footwear fell by 0.5%.

Housing, water, electricity, gas, and fuel sector accounted for 0.8 percentage points of the annual inflation, followed by food and beverages with a 0.3-point contribution.