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Press Dossier    By Date   15/01/2023 Saudi inflation rises 3.3% year-on-year in December 2022: GASTAT

Arab News, Sunday, Jan 15, 2023 | Jamadi Al Thani 22, 1444

Saudi inflation rises 3.3% year-on-year in December 2022: GASTAT

Saudi Arabia: Saudi Arabia’s annual inflation rate rose by 3.3 percent in December 2022, compared to the same period in 2021, according to the latest report released by the Kingdom’s General Authority for Statistics.

The report noted that the rise in the Kingdom’s consumer price index was primarily driven by the higher prices of housing, water, electricity, gas, and other fuels which went up by 5.9 percent, while food and beverage prices rose by 4.2 percent.

According to the report, housing, water, electricity, gas, and other fuel prices were increased due to the rise in actual rentals for housing by 6.8 percent, which in turn was affected by the increase in apartment rental prices by 18.1 percent.

In November, the inflation rate in Saudi Arabia was 2.9 percent, while it stood at 3.1 percent and 3 percent in September and October respectively.

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