Share

Inflation in Saudi Arabia rises to 3% year on year in August

Meat and poultry prices rose 6.7%
Inflation in Saudi Arabia rises to 3% year on year in August
Saudi men buying vegetables (Image credit: Reuters)

Saudi Arabia’s consumer price index, which measures inflation, increased by 3 percent year on year in August, up from 2.7 percent in July.

The General Authority for Statistics (GASTAT) attributed this surge to a 4 percent increase in food, beverage, and transportation prices.

Meanwhile, meat and poultry prices increased by 6.7%. Given that it accounts for 18.8 percent of the index, the increase in this category had a significant impact on the increase in annual inflation in August.

Prices rose 0.4 percent month on month in August, slightly less than the 0.5 percent increase in July.

“The monthly inflation index was affected by a 0.8 percent growth in the food and beverages section, which in turn was affected by a 0.9 percent increase in food prices,” GASTAT said in its report.

The stories on our website are intended for informational purposes only. Those with finance, investment, tax or legal content are not to be taken as financial advice or recommendation. Refer to our full disclaimer policy here.