Inflation in Saudi Arabia grows to 0.8% in October

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Saudi Arabia’s inflation rose to 0.8% in October, according to recent data by the General Authority for Statistics (GASTAT).

The cost-of-living index for October rose to 104.95 points, according to the base year 2018, compared to 104.10 points the year before.

The increase in consumer price index (CPI) was mainly driven by a 6.4% year-on-year (YoY) rise in the average prices of transport, and a 1.4% increase in the average prices of food and beverage prices.

The rise in transport sector was affected by higher operating prices of personal transport equipment by 21.5%, which in turn was impacted by higher prices of fuel by 47.9%.

This sector had a significant impact on the rise of annual inflation due to its weight in the index.

Education sector rose by 4.8%, impacted by a 13.6% growth in intermediate and secondary education’s prices.

In addition, communication sector rose by 1.2%, impacted by a 2.3% increase in phone and fax service prices.

Meanwhile, clothing and footwear sector declined by 1.6%, due to a 1.2% fall in clothing prices.

Housing, water, electricity, gas and other fuels sector retreated by 2.2%, due to a 2.6% fall in housing rents.

The table below illustrates the change in the CPI comparison YoY in October:

The CPI reflects price changes of a fixed basket of goods and services that includes 490 items. The items were chosen based on the results of the Household Expenditure and Income Survey conducted in 2018.

Prices are collected through point of sale (POS) field visits.

Details and Historical Data of Inflation