HomeEconomyInflation in Saudi rises in July to highest level in 13 months
By Economy Middle East
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August 15, 2022 11:57 am

Inflation in Saudi rises in July to highest level in 13 months

F&B prices, transportation costs were the primary causes of rising inflation
Inflation
Saudi citizens shopping at a shop in Saudi

Inflation in Saudi Arabia reached its highest level in 13 months in July. Last month, the main drivers of price hikes were food and beverage prices and transportation costs.

The consumer price index increased in July by 2.7 percent over the same month last year, compared to 2.3 percent in June. 

In a statement issued today, the Saudi General Authority for Statistics (GASTAT) attributed the surge in annual inflation for July to a 3.9 percent increase in food and beverage prices and a 3.6 percent rise in transportation prices.

The consumer price index increased month on month by 0.5 percent in July compared to the previous month. A 1.1 percent increase in the transportation sector influenced the monthly inflation index, which was in turn driven by a 1.1 percent increase in vehicle purchase prices.