Saudi December inflation reaches 2.4% in December

Saudi Arabia’s inflation rate declined to reach 2.4 percent in December, according to the kingdom’s Central Department of Statistics.

The statistics department bases its consumer price index on the year 2007.

The consumer price index (CPI)— which measures price level changes of a market basket of consumer goods and services— rose to 131.5 points in December 2014 compared to 128.4 points in the same month in 2013.

The prices of all major groups within the basket have increased in December 2014 compared to the same month last year except for the telecommunication group.

Entertainment and culture group prices showed the largest year-on-year increase by 9 percent, followed by the healthcare group, which increased by 3.6 percent year-on-year.

Moreover, home furniture and maintenance groups increased by 3.2 percent.