The latest data released by the General Authority for Statistics showed a 10.5% increase in actual residential rental prices in the Kingdom by 10.5% during the month of May, driven by an increase in apartment rental prices by 14.3%, noting that the rise in this category had a significant impact on the continued pace of annual inflation for May 2024, given that this category accounts for 21%

Statistics Authority data also showed a 1.4% increase in food and beverage prices, driven by a 6.9% rise in vegetable prices, while the restaurants and hotels sector recorded a 2.5% increase, driven by a 1.9% rise in food service prices, and the education sector recorded a 1.1% increase; driven by a 4.1% increase in middle and high school tuition fees.

On the other hand, prices in the home furnishings and equipment sector fell by 3.8%, driven by a 5.8% decline in prices for furniture, carpets, and floor coverings.