Saudi Arabia’s inflation rate accelerated to 2.2 percent in July 2018, following energy price hikes and implementation of the value-added tax (VAT), the latest figures from the General Authority for Statistics (GASTAT) showed.
The cost of living index leveled up to 107.5 points in July, compared to 105.1 points in the same month last year.
The GASTAT changed the base year for the consumer price index to 2013 from 2007 and adjusted the basket of goods and services.
|
Saudi Inflation Rate |
|
|
Month |
Inflation rate* |
|
January 2017 |
(0.6%) |
|
February |
(0.6%) |
|
March |
(0.7%) |
|
April |
(0.7%) |
|
May |
(0.8%) |
|
June |
(0.5%) |
|
July |
(0.8%) |
|
August |
(0.8%) |
|
September |
(0.8%) |
|
October |
(1.2%) |
|
November |
(1.7%) |
|
December |
(1.1%) |
|
January 2018 |
+3.0% |
|
February |
+2.9% |
|
March |
+2.8% |
|
April |
+2.5% |
|
May |
+2.3% |
|
June |
+2.1% |
|
July |
+2.2% |
*Updated for base year 2013
Prices of ten main groups in the Consumer Price Index (CPI) basket increased, led by transportation, which increased 10.4 percent in July.
Apparel & footwear, along with housing, water, electricity, gas and fuel saw a decrease between 8.3 and 1.3 percent, respectively.
The following table shows the most important changes in the main groups in the CPI between June 2017 and 2018:
|
CPI YoY comparison (July 2018/2017) |
|
|
Main Groups |
Variation (%) |
|
Transportation |
+10.4% |
|
Tobacco |
+9.8% |
|
Hotels & Restaurants |
+7.6% |
|
Food & Beverages |
+6.7% |
|
Healthcare |
+4.0% |
|
Telecommunications |
+1.4% |
|
Home Furniture & Maintenance |
+1.2% |
|
Education |
+0.5% |
|
Entertainment & culture |
+0.5% |
|
Goods & various services |
+0.4% |
|
Housing, Water, Electricity, Gas and Fuel |
(1.3%) |
|
Apparel & Footwear |
(8.3%) |
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