Last December, the annual consumer price (inflation) rate in Saudi Arabia rose by 3.3 percent, the highest level since July 2021, which is 6.2 percent.
Data from the Saudi General Authority for Statistics (governmental) showed inflation growing by 0.3 percent on a monthly basis. Inflation rose in Saudi Arabia, last December, for the 36th consecutive month, as it contracted during the whole of 2019, and then began to rise since then.
The rise in inflation last month was driven by the rise in the housing, water, and gas section, the highest weighting section in the index, by 5.9 percent, and food and beverage prices, the second most influential section in the index, by 4.2 percent, on an annual basis.
Food and beverage prices rose around the world due to the repercussions of Corona, and then the Russian-Ukrainian war. The Consumer Price Index reflects changes in the prices that consumers pay for a fixed basket of goods and services consisting of 490 items.
Source (Al-Araby Al-Jadeed Newspaper, Edited)
