Data from the General Authority for Statistics in Saudi Arabia revealed that the inflation rate for August 2022 increased to 3% on an annual basis.
In a report, the authority attributed the increase in food and beverage prices to being the biggest influence on the increase in inflation for the month of August 2022 compared to August 2021, where the food and beverage division recorded an increase of 4.0 percent; Affected by an increase in food prices by 4.3 percent, and meat and poultry prices by +6.7 percent, the Transportation Department recorded an increase of 4.0 percent; Affected by the increase in car prices by 4.7 percent.
The housing, water, electricity, gas and other fuels section recorded an increase of 2.5 percent, affected by an increase in housing rental prices by 2.7 percent. The miscellaneous personal goods and services section recorded an increase of 2.1 percent; affected by the rise in wedding halls rental prices by 21.7 percent, while the restaurants and hotels section recorded an increase of 7.3 percent; affected by the increase in the prices of meal services by 7.3 percent, while the education department recorded an increase of 5.7 percent; affected by the increase in the prices of intermediate and secondary education by 10.1 percent.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
