Annual wholesale price inflation in Saudi Arabia accelerated to 2.0 percent in April 2025, up from 1.5 percent in the previous month, according to the General Authority for Statistics (GASTAT).
This represented the highest wholesale inflation rate since October 2024, primarily driven by a faster increase in the costs of agricultural and fishery products (4.5 percent vs. 3.6 percent) and other transportable goods, excluding metal products, machinery, and equipment (4.1 percent vs. 3.2 percent).
Additionally, GASTAT reported that deflation eased for metal products, machinery, and equipment (-0.1 percent vs. -0.2 percent) and for ores and minerals (-1.7 percent vs. -1.9 percent). Meanwhile, prices for food products, beverages, tobacco, and textiles remained unchanged, compared to a 0.1 percent increase in the previous month.
On a monthly basis, wholesale prices rose by 0.1 percent in April 2025, down from a 0.4 percent increase in the prior month.
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Saudi Arabia’s oil revenues continue to play a crucial role in its economy, generating SAR149.810 billion ($39.94 billion) in the first quarter of 2025. This revenue, however, reflects an 18 percent decline compared to the previous year, as the Kingdom navigates the challenges posed by fluctuating oil prices and strategic production cuts.
Despite these hurdles, the government’s commitment to its Vision 2030 initiative remains steadfast, focusing on transformative projects aimed at reducing dependence on oil.
While the Kingdom’s total revenues saw a 10 percent decrease to SAR263.616 billion ($70.3 billion), public spending increased by 5 percent to SAR322.317 billion ($85.9 billion) during the same period, according to a ecent statement from the Finance Ministry.
