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Saudi inflation rises to 2% in November
Saudi Arabia’s inflation accelerated to 2% last November compared with the previous month, according to recent data by the General Authority for Statistics (GASTAT).
The cost-of-living index for November rose to 112.24 points, according to the base year 2018, from 110.06 points in the same month a year earlier.
Inflation is measured by the percentage change in the cost of living between the current period and the year-ago period. The increase or decline in inflation is measured compared to the previous month.
Saudi Inflation Rate:
| Month | Inflation |
|
|
|---|---|---|---|
| Nov2022 | 2.9 % | ||
| Nov2023 | 1.67 % | ||
| Nov2024 | 1.98 % | ||
|
Data Economic
|
GASTAT attributed the rise in inflation to a 9.1% increase in housing, water, electricity, gas, and other fuel prices. This was mainly driven by a 10.8% increase in the rents group, with apartment rents rising by 12.5%.
The group’s 25.5% weight had a significant impact on the rising inflation rates in October.
The prices of miscellaneous personal goods and services group jumped 2.7% due to the higher prices of jewelry and luxury watches levelled up 23.7%. The restaurants and hotels group recorded a rise of 1.5% on a 5.9% advance in hotel services and furnished apartment prices.
On the other hand, the furnishings and household equipment group saw a drop of 2.9%, with clothing and footwear declining by 2.3%. Similarly, transport prices fell 2.5% as vehicle purchasing prices decreased by 3.9%.
CPI YoY Comparison (November 2023-2024):
| Main Groups | Change |
|---|---|
| Food and Beverages | 0.31 |
| Tobacco | 1.43 |
| Clothing and footwear | 2.30 |
| Housing, Water, Electricity, Gas, and other fuels | 9.09 |
| Furnishings, Household equipment | 2.91 |
| Health | 1.27 |
| Transport | 2.54 |
| Communication | 1.45 |
| Recreation and Culture | 1.13 |
| Education | 1.11 |
| Restaurants and Hotels | 1.51 |
| Miscellaneous personal goods and services | 2.67 |
The Consumer Price Index (CPI) tracks price changes for a fixed basket of 490 goods and services, selected from the 2018 income and expenditure survey. Prices are gathered through field visits to points of sale.
The Weight of Main Groups (%):
Monthly inflation rose in Makkah, Dammam, Madinah, Taif, Jazan, and Najran.
It, however, declined in Riyadh, Buraidah, Tabuk, Sakaka, and Arar.
Jeddah, Hofuf, Abha, Hail, and Al-Baha recorded a deflation.
Inflation Rate by City:
- Riyadh
- Makkah
- Jeddah
- Al Dammam
- Madinah
- Al Taif
- Al Hofuf
- Abha
- Buraydah
- Tabuk
- Hail
- Jizan
- Najran
- Bahah
- Sakaka
- Arar
| 3.45 % | 4.07 % | 3.97 % | 3.51 % | 3.27 % | 3.48 % | 3.83 % | 3.61 % | 3.33 % | 3.39 % | 2.51 % | 2.41 % | 3.02 % | 2.24 % | 2.28 % | 2.78 % | 3.26 % | 3.44 % | 3.04 % | 2.76 % | 2.72 % | 2.86 % | 4.05 % |
| 2.19 % | 0.62 % | 0.83 % | 1.54 % | 1.58 % | 1.71 % | 2.12 % | 2.32 % | 1.61 % | 1.28 % | 0.59 % | 0.01 % | 0.13 % | 0.04 % | 0.03 % | 0.44 % | 1.16 % | 1.77 % | 1.83 % | 2.17 % | 2.59 % | 2.89 % | 2.47 % |
| 0.09 % | 0.53 % | 0.30 % | 0.35 % | 0.39 % | 0.60 % | 0.09 % | 0.03 % | 0.60 % | 1.47 % | 1.85 % | 1.78 % | 2.48 % | 3.71 % | 4.53 % | 5.22 % | 5.41 % | 6.50 % | 6.55 % | 6.63 % | 6.64 % | 6.65 % | 6.76 % |
| 2.09 % | 1.39 % | 0.34 % | 1.44 % | 0.68 % | 0.10 % | 0.41 % | 0.01 % | 0.18 % | 0.18 % | 0.41 % | 0.54 % | 0.37 % | 0.05 % | 0.77 % | 1.49 % | 0.34 % | 1.22 % | 1.21 % | 0.37 % | 0.44 % | 0.92 % | 0.66 % |
| 1.42 % | 1.41 % | 1.49 % | 1.38 % | 2.33 % | 2.04 % | 1.48 % | 1.76 % | 1.27 % | 1.40 % | 0.95 % | 1.21 % | 0.87 % | 0.91 % | 0.65 % | 0.86 % | 0.29 % | 0.36 % | 0.81 % | 1.18 % | 1.27 % | 1.17 % | 0.96 % |
| 0.26 % | 0.11 % | 0.26 % | 0.15 % | 0.25 % | 0.56 % | 0.27 % | 0.07 % | 0.00 % | 0.51 % | 0.23 % | 0.51 % | 0.45 % | 0.08 % | 0.54 % | 0.37 % | 0.20 % | 0.40 % | 0.34 % | 0.99 % | 1.64 % | 1.76 % | 2.13 % |
| 0.01 % | 2.60 % | 2.63 % | 2.66 % | 2.09 % | 2.06 % | 1.71 % | 0.08 % | 0.15 % | 0.21 % | 0.50 % | 0.02 % | 0.57 % | 1.59 % | 1.37 % | 2.00 % | 1.86 % | 1.39 % | 1.73 % | 2.22 % | 3.30 % | 3.50 % | 3.46 % |
| 1.66 % | 2.22 % | 1.19 % | 1.08 % | 0.82 % | 2.18 % | 1.68 % | 2.00 % | 3.02 % | 4.18 % | 4.77 % | 3.04 % | 2.95 % | 2.87 % | 2.94 % | 3.18 % | 1.42 % | 0.52 % | 1.12 % | 1.37 % | 0.61 % | 0.18 % | 0.02 % |
| 9.24 % | 11.58 % | 13.81 % | 14.55 % | 14.50 % | 14.45 % | 14.17 % | 14.28 % | 13.25 % | 10.85 % | 8.92 % | 8.09 % | 5.27 % | 3.69 % | 3.54 % | 3.48 % | 3.28 % | 2.83 % | 3.51 % | 2.46 % | 1.97 % | 2.01 % | 1.66 % |
| 0.09 % | 0.45 % | 0.31 % | 0.07 % | 0.03 % | 0.48 % | 1.08 % | 1.16 % | 0.68 % | 0.76 % | 0.66 % | 0.92 % | 0.78 % | 0.85 % | 1.11 % | 2.06 % | 1.49 % | 0.80 % | 0.33 % | 0.40 % | 0.88 % | 1.11 % | 1.20 % |
| 0.49 % | 0.14 % | 0.85 % | 1.15 % | 1.01 % | 0.22 % | 1.07 % | 0.80 % | 0.55 % | 0.42 % | 0.44 % | 0.35 % | 0.08 % | 0.20 % | 0.46 % | 0.47 % | 0.84 % | 1.74 % | 1.15 % | 1.27 % | 1.62 % | 2.03 % | 2.07 % |
| 2.67 % | 2.28 % | 0.23 % | 0.11 % | 0.86 % | 0.61 % | 1.39 % | 1.46 % | 2.57 % | 2.91 % | 4.59 % | 5.73 % | 4.91 % | 4.86 % | 4.61 % | 5.03 % | 2.98 % | 3.04 % | 2.05 % | 1.53 % | 0.25 % | 0.34 % | 1.94 % |
| 0.47 % | 0.19 % | 0.47 % | 0.76 % | 0.44 % | 0 % | 0.15 % | 0.33 % | 0.30 % | 0.57 % | 0.08 % | 0.03 % | 0.34 % | 0.85 % | 1.08 % | 1.23 % | 1.23 % | 0.67 % | 0.51 % | 0.54 % | 1.28 % | 1.33 % | 1.95 % |
| 1.31 % | 1.08 % | 1.91 % | 1.84 % | 0.92 % | 1.14 % | 1.22 % | 1.98 % | 1.59 % | 1.23 % | 1.46 % | 0.47 % | 0.49 % | 0.75 % | 0.38 % | 0.41 % | 1.00 % | 0.46 % | 0.17 % | 1.01 % | 0.92 % | 0.86 % | 0.84 % |
| 1.00 % | 1.15 % | 0.93 % | 0.90 % | 0.69 % | 0.64 % | 0.37 % | 0.35 % | 0.46 % | 0.43 % | 0.51 % | 0.13 % | 0.02 % | 0.48 % | 0.32 % | 0.15 % | 0.20 % | 0.06 % | 0.19 % | 0.40 % | 0.82 % | 1.30 % | 1.42 % |
| 0.13 % | 0.38 % | 0.66 % | 1.18 % | 1.07 % | 0.63 % | 0.80 % | 0.73 % | 0.86 % | 0.95 % | 0.59 % | 1.88 % | 0.83 % | 1.31 % | 0.54 % | 0.55 % | 0.59 % | 0.31 % | 0.44 % | 0.03 % | 0.54 % | 0.73 % | 1.29 % |
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Constituent Groups of Inflation
| Main Groups |
|---|
| Housing, Water, Electricity, Gas, and other fuels |
| Food and Beverages |
| Transport |
| Furnishings, Household equipment |
| Communication |
| Restaurants and Hotels |
| Clothing and footwear |
| Education |
| Recreation and Culture |
| Health |
| Tobacco |
| Miscellaneous personal goods and services |
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