The yearly inflation rate in Saudi Arabia rose in January, recording 2% compared to 1.9% in the previous December, according to the General Authority for Statistics data released on Sunday.
Housing, water, electricity, gas and other fuels prices recorded a significant increase of 8% during January, while food and beverage prices rose by 0.8%, while transportation costs declined. The prices of housing, water, electricity, gas and other fuels increased significantly by 8% in January, while food and beverage prices rose by 0.8%, while transportation costs declined by 1.9%.
Housing, water, electricity, gas and other fuels prices increased by 8% in January. Rents paid for housing were the main contributors to inflation, rising by 9.7%, driven by a 7.7% increase in villa rents, which accounted for 25.5% of the housing, water and electricity section.
Month-on-month, rents paid for housing increased by 0.8%, while transportation costs declined by 1.9%. On a monthly basis, the CPI registered a slight rise of 0.3%, driven by a rise in housing, water, electricity and gas prices by the same percentage, as a result of an increase in actual residential rents.
<With these figures, inflation continues to be affected by price changes in key sectors, as markets monitor future price trends.
