Saudi Arabia’s inflation accelerated to 6.2% in June 2021, according to recent data by the General Authority for Statistics (GASTAT).
The authority attributed the growth in inflation to an increase in the value-added tax (VAT) from 5% to 15%, effective July 1, 2020.
The cost-of-living index for June rose to 104.25 points, according to the base year 2018, compared to 98.20 points the year before.
|
Saudi Inflation Rate |
|
|
Month |
Inflation rate |
|
January 2020 |
0.7% |
|
February |
1.2% |
|
March |
1.5% |
|
April |
1.3% |
|
May |
1.1% |
|
June |
0.5% |
|
July |
6.1% |
|
August |
6.2% |
|
September |
5.7% |
|
October |
5.8% |
|
November |
5.8% |
|
December |
5.3% |
|
January 2021 |
5.7% |
|
February |
5.2% |
|
March |
4.9% |
|
April |
5.3% |
|
May |
5.7% |
|
June |
6.2% |
The increase in consumer price index (CPI) was mainly driven by a rise of 8.1% year-on-year (YoY) in the average prices of food and beverages, affected by higher food prices by 8%, and a 22.6% increase in the transport sector as vehicle prices grew by 10.6%.
Communication and tobacco sectors rose by 13.2% and 12.3%, respectively, as the former was impacted by 15.4% growth in phone and fax service prices and the latter was affected by a 13.5% increase in cigarette prices.
Meanwhile, education sector declined by 9.1% as the pre-primary and primary education dropped by 14.3%, while intermediate and secondary education fell by 11%.
Housing, water, electricity, gas & other fuels sector was also down 2.3%, due to a 3.4% fall in housing rents.
The table below illustrates the change in the CPI comparison YoY in June 2021:
|
CPI YoY Comparison - June 2021 |
|
|
Main Groups |
Variation (%) |
|
Transport |
+ 22.6 % |
|
Communication |
+ 13.2 % |
|
Tobacco |
+ 12.3 % |
|
Restaurants & Hotels |
+ 8.3 % |
|
Food & Beverages |
+ 8.1 % |
|
Furniture, Household Equipment, and Household Maintenance |
+ 7.9 % |
|
Clothes & Footwear |
+ 6.1 % |
|
Recreation & Culture |
+ 5.1 % |
|
Miscellaneous Goods & Services |
+ 4.5 % |
|
Healthcare |
+ 3.2 % |
|
Housing, Water, Electricity, Gas & Other Fuels |
(2.3%) |
|
Education |
(9.1%) |
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