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Saudi Arabia’s inflation rose to 2.7% in July 2022 compared to June, according to recent data by the General Authority for Statistics (GASTAT).
The cost-of-living index for July rose to 107.20 points, according to the base year 2018, compared to 104.41 points in the same month a year earlier.
The inflation is measured by the change percentage in the cost of living between the current period and the corresponding period of the previous year. The increase or decline of inflation is measured compared to the previous month.
|
Saudi Inflation Rate |
|
|
Month |
Inflation rate |
|
January 2021 |
5.7% |
|
February |
5.2% |
|
March |
4.9% |
|
April |
5.3% |
|
May |
5.7% |
|
June |
6.2% |
|
July |
0.4% |
|
August |
0.3% |
|
September |
0.6% |
|
October |
0.8% |
|
November |
1.1% |
|
December |
1.2% |
|
January 2022 |
1.2% |
|
February |
1.6% |
|
March |
2.0% |
|
April |
2.3% |
|
May |
2.2% |
|
June |
2.3% |
|
July |
2.7% |
The increase in consumer price index (CPI) was mainly driven by a 3.9% year-on-year (YoY) rise in the food and beverage prices, followed by transport prices at 3.6% YoY.
The table below illustrates the YoY change in July’s CPI:
|
CPI YoY Comparison – July 2021-2022 |
|
|
Main Groups |
Change |
|
Restaurants & Hotels |
+ 6.3 % |
|
Education |
+ 5.7 % |
|
Recreation & Culture |
+ 4.2 % |
|
Food & Beverages |
+ 3.9 % |
|
Transport |
+ 3.6 % |
|
Personal Goods & Services |
+ 2.1 % |
|
Housing, Water, Electricity, Gas & Other Fuels |
+ 2.0 % |
|
Furnishing, Household Equipment & Maintenance |
+ 1.4 % |
|
Healthcare |
+ 0.6 % |
|
Communication |
+ 0.2 % |
|
Tobacco |
+ 0.1 % |
|
Clothing & Footwear |
(1.2%) |
Inflation increased in Riyadh, Jeddah, Hofuf, Dammam, Abha, Taif, Jazan and Hail, compared to June 2022.
Meanwhile, inflation declined Al Bahah, Sakaka, Makkah, Buraydah and Tabuk, but stabilized in Madinah and Arar. It recorded a negative rate in Najran.
The following table indicates inflation in Saudi cities:
|
Inflation Rate by City |
|||
|
City |
July 2021 |
June 2022 |
July 2022 |
|
Riyadh |
0.8% |
2.6% |
3.3% |
|
Makkah |
1.6% |
2.1% |
1.8% |
|
Jeddah |
(2.1%) |
2.4% |
3.1% |
|
Dammam |
0.3% |
1.7% |
2.3% |
|
Madinah |
0.7% |
2.0% |
2.0% |
|
Taif |
0.5% |
0.9% |
1.3% |
|
Hofuf |
(0.2%) |
1.1% |
1.7% |
|
Abha |
(2.5%) |
2.1% |
2.6% |
|
Buraydah |
1.6% |
2.1% |
2.0% |
|
Tabuk |
4.4% |
1.5% |
1.4% |
|
Hail |
2.0% |
1.0% |
1.1% |
|
Jazan |
(1.0%) |
6.0% |
6.2% |
|
Najran |
10.6% |
0.5% |
(0.1%) |
|
Al Bahah |
1.7% |
3.7% |
1.9% |
|
Sakaka |
3.6% |
3.7% |
3.3% |
|
Arar |
2.1% |
2.0% |
2.0% |
|
Total |
0.4% |
2.3% |
2.7% |
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.
|
Relative Importance of Major Sectors |
|
|
Expenditure Groups (2018) |
Percent |
|
General Index |
100.0% |
|
Housing, Water, Electricity, Gas & Other Fuels |
25.50% |
|
Food & Beverages |
18.78% |
|
Transport |
13.05% |
|
Personal Goods & Services |
12.57% |
|
Furnishing, Household Equipment & Maintenance |
6.74% |
|
Communication |
5.62% |
|
Restaurants & Hotels |
5.60% |
|
Clothes & Footwear |
4.20% |
|
Recreation & Culture |
3.06% |
|
Education |
2.87% |
|
Healthcare |
1.43% |
|
Tobacco |
0.60% |
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