Saudi Arabia's annual inflation rate slowed to 1.9 percent in December 2024, compared to 2 percent last November.
The Saudi General Authority for Statistics attributed the increase in the inflation rate by 1.9 percent last December, to the increase in the prices of housing, water, electricity, gas, and other fuels section by 8.9 percent, the prices of the food and beverages section by 0.8 percent, and the prices of the miscellaneous personal goods and services section by 2.2 percent, compared to the decrease in the prices of the transport section by 2.5 percent. The increase in the prices of housing, water, electricity, gas, and other fuels by 8.9 percent was affected by the increase in the group of rents paid for housing by 10.6 percent. The rise in this section had a significant impact on the continuation of the annual inflation pace for December 2024, given the weight that this section constitutes, which is 25.5 percent.
Source (Al-Arabiya.net Website, Edited)
