Annual inflation in Saudi Arabia rises to 1.6 percent in February
The consumer price index or inflation index in Saudi Arabia increased by 1.6 percent for the month of February 2022 compared to the same month last year.
And the level it reached is higher than the previous month in January 2022, when it was at 1.2 percent on an annual basis.
According to figures issued by the General Authority for Statistics in Saudi Arabia, this rise is due to a 4.3 percent increase in transportation prices, affected by a 25.7% increase in gasoline prices. The rise in this section had a significant impact on the increase in annual inflation in February due to its weight in the index.
The food and beverages section also recorded an increase of 2.4 percent, affected by the increase in food prices by 2.6 percent, which in turn was affected by the increase in the prices of vegetables by 9.7 percent.
On the other hand, the prices of housing, water, electricity, gas, and other fuels decreased by 0.2 percent, affected by a decline in housing rental prices by 0.3 percent.
The consumer price index for February 2022 was relatively stable compared to January 2022, rising by 0.3 percent. The monthly inflation index was affected by the increase in food and beverages by 0.4 percent, which in turn was affected by the increase in food prices by 0.5 percent.