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Saudi Arabia’s inflation grew to 1.2% in December, according to recent data by the General Authority for Statistics (GASTAT).
The cost-of-living index for December rose to 105.06 points, according to the base year 2018, compared to 103.77 points the year before.
|
Saudi Inflation Rate |
|
|
Month |
Inflation rate |
|
January 2020 |
0.7% |
|
February |
1.2% |
|
March |
1.5% |
|
April |
1.3% |
|
May |
1.1% |
|
June |
0.5% |
|
July |
6.1% |
|
August |
6.2% |
|
September |
5.7% |
|
October |
5.8% |
|
November |
5.8% |
|
December |
5.3% |
|
January 2021 |
5.7% |
|
February |
5.2% |
|
March |
4.9% |
|
April |
5.3% |
|
May |
5.7% |
|
June |
6.2% |
|
July |
0.4% |
|
August |
0.3% |
|
September |
0.6% |
|
October |
0.8% |
|
November |
1.1% |
|
December |
1.2% |
The increase in consumer price index (CPI) was mainly driven by a 7.2% year-on-year (YoY) rise in the average prices of transport, and a 1.1% increase in the average prices of food and beverage.
The rise in the transport sector was affected by higher prices of fuel by 50%, which had a significant impact on the increase in annual inflation due to the sector’s weight in the index.
Education sector rose by 4.8%, impacted by a 13.6% growth in intermediate and secondary education prices.
In addition, the communication sector rose by 1.4%, impacted by a 2.3% increase in phone and fax service prices.
Meanwhile, the housing, water, electricity, gas and other fuels sector declined by 1.6%, due to a 1.9% fall in housing rents.
Clothing and footwear sector retreated by 1.6% on lower clothing prices by 1%.
The table below illustrates the change in the CPI comparison YoY in December:
|
CPI YoY Comparison - December |
|
|
Main Groups |
Variation (%) |
|
Transport |
7.2 % |
|
Education |
4.8 % |
|
Recreation & Culture |
2.8 % |
|
Restaurants & Hotels |
1.8 % |
|
Communication |
1.4 % |
|
Personal Goods & Services |
1.4 % |
|
Food & Beverages |
1.1 % |
|
Furniture, Household Equipment and Maintenance |
0.6 % |
|
Tobacco |
0.1 % |
|
Healthcare |
(0.2%) |
|
Housing, Water, Electricity, Gas & Other Fuels |
(1.6%) |
|
Clothing & Footwear |
(1.6%) |
The CPI reflects price changes of a fixed basket of goods and services that includes 490 items. The items were chosen based on the results of the Household Expenditure and Income Survey conducted in 2018.
Prices are collected through point of sale (POS) field visits.
|
Relative Importance of Major Sectors |
|
|
Expenditure Groups (2018) |
(%) |
|
General Index |
100.0% |
|
Housing, Water, Electricity, Gas & Other Fuels |
25.5% |
|
Food & Beverages |
18.78% |
|
Transport |
13.05% |
|
Personal Goods & Services |
12.57% |
|
Furnishing, Household Equipment and Maintenance |
6.74% |
|
Communication |
5.62% |
|
Restaurants & Hotels |
5.60% |
|
Clothes & Footwear |
4.20% |
|
Recreation & Culture |
3.06% |
|
Education |
2.87% |
|
Healthcare |
1.43% |
|
Tobacco |
0.60% |
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