Saudi inflation rises to 2% in November

15/12/2024 Argaam Exclusive

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 %

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:

City
Nov-24
Oct-24
Sep-24
Aug-24
Jul-24
Jun-24
May-24
Apr-24
Mar-24
Feb-24
Jan-24
Dec-23
Nov-23
Oct-23
Sep-23
Aug-23
Jul-23
Jun-23
May-23
Apr-23
Mar-23
Feb-23
Jan-23
  • 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 %

Constituent Groups of Inflation

Main Groups

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.