Riyadh: Saudi Arabia’s CPI (Consumer Price Index) rose by 3 percent in August, as GASTAT, the General Authority for Statistics, reported on Thursday.
Food and beverage prices increased by 4.0%, mainly due to meat prices increasing by 6.7%. The food and beverage prices were the main drivers of inflation in August 2022.
Transport increased by 4.0%, mainly due to car prices increase of +4.7%.
Housing prices, water, electricity, gas, and other fuels increased by 2.5% due to the increase in rents for housing by 2.7%. Services and personal goods increased by 2.1%, mainly due to the rise in wedding hall rentals, +21.7%.
Restaurants and hotel prices increased by 7.3%.
Education costs increased by 5.7%, affected mainly by the increase in secondary education prices of 10.1%.
Meanwhile, the Saudi Wholesale Price Index (WPI) increased by 5.6%. The increase resulted mainly from the rise in metal products, machinery, and equipment prices by +3.2%.
Metal products, machinery, and equipment prices rose by 3.2% due to the increase in General-purpose machinery prices by (10.2%). They fabricated metal products prices by (6.9%) due to their weight in the index.
Other goods transport costs increased by 4.8% due to increased basic chemicals prices by 12.5% and a 3.5% rise in refined petroleum products.
Food products, tobacco, and textiles prices increased by 8.8% due to the increase in the prices of fruits, vegetables, meat, fish, oils, and fats by 22.3%. Milled grain, starch, and other food products rose by 5.5%.
Agriculture and fishery products prices increased by 15.0%, mainly from higher prices of agricultural products (18.3%) and live animals and animal products (8.7%).
Ores and minerals prices increased due to the increase in stones and sand prices by 6.0%.