Data from the General Authority for Statistics (GASTAT) showed a slight increase in Saudi Arabia's inflation rate to 1.6% in August, compared to July.
The cost-of-living index rose to 111.44 points in August, using 2018 as the base year, compared to 109.71 points in the same period of 2023.
Inflation is measured by the percentage change in the cost of living between the current and the same period last year, with changes identified by comparing it to the previous month.
| Month | Inflation |
|
|
|---|---|---|---|
| Aug2022 | 3.0 % | ||
| Aug2023 | 1.95 % | ||
| Aug2024 | 1.58 % | ||
|
Data Economic
|
GASTAT reported that residential rents were the largest contributor to this August’s inflation rate, compared to August 2023.
Housing rents increased by 10.7% year-on-year (YoY) in August, mainly due to a 10.8% YoY rise in apartment rents. This group's 21% weight had a significant impact on sustaining the inflation rate.
Food and beverage prices climbed by 0.9% YoY, driven by a 4.6% YoY increase in vegetable prices. Restaurant and hotel prices grew by 1.5% YoY, influenced by a 1.6% YoY hike in food service costs.
The education sector saw a 1.6% YoY uptick, mainly due to a 3.8% YoY leap in middle and high school tuition fees.
Meanwhile, furnishings and household equipment prices dropped by 3.5% YoY, largely because of a 6.2% YoY decline in furniture and carpet prices.
Clothing and footwear prices also decreased by 3.2% YoY, impacted by a 5.6% YoY fall in ready-made clothing prices.
The transportation sector recorded a 3.4% YoY slump, driven by a 4.9% YoY drop in vehicle prices.
| Main Groups | Change |
|---|---|
| Food and Beverages | 0.92 |
| Tobacco | 1.29 |
| Clothing and footwear | 3.19 |
| Housing, Water, Electricity, Gas, and other fuels | 8.93 |
| Furnishings, Household equipment | 3.50 |
| Health | 1.12 |
| Transport | 3.36 |
| Communication | 1.52 |
| Recreation and Culture | 2.95 |
| Education | 1.60 |
| Restaurants and Hotels | 1.53 |
| Miscellaneous personal goods and services | 0.68 |
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.
Inflation rose in Riyadh, Dammam, Buraydah, Hail, Sakaka, and Arar.
It, however, declined in Madinah and Taif.
Negative inflation was recorded in Makkah, Jeddah, Al-Hofuf, Abha, Tabuk, Jazan, Najran, and Al-Baha.
| 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 % |
| 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 % |
| 0.35 % | 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 % |
| 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 % |
| 1.38 % | 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 % |
| 0.15 % | 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 % |
| 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 % |
| 1.08 % | 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 % |
| 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 % |
| 0.07 % | 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 % |
| 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 % |
| 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 % |
| 0.76 % | 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 % |
| 1.84 % | 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 % |
| 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 % |
| 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 % |
| 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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