The consumer price index (inflation) in the Kingdom of Saudi Arabia increased by 2.9% last November compared to its counterpart in the previous year. This increase is attributed to the increase in the prices of housing, water, electricity, gas, and other fuels by 4.7%, and the prices of food and beverages by 3.5%.
According to the report of the General Authority for Statistics, today, Thursday, the rise in the prices of housing, water, electricity, gas, and other fuels was affected by the increase in the prices of rent paid for housing by 5.4%, which in turn was affected by the rise in apartment rents by 15.7%, and the rise in this section had a significant impact on the rise in inflation. annual report in November 2022, given its weight in the index (25.5%).
The Food and Beverage division also increased by 3.5% year-on-year; Affected by the increase in food prices by 3.6%, which in turn was affected by the increase in the prices of meat and poultry by 4.5%.
On a monthly level, inflation recorded a slight increase last November, by 0.1%, compared to its level in October 2022. The monthly inflation was affected by the increase in the housing, water, electricity, gas, and other fuels section by 1.4%, which in turn was affected by the increase in rental prices paid for housing by 1.6%.
The consumer price index (inflation) reflects changes in the prices paid by consumers for a fixed basket of goods and services consisting of 490 items. Through field visits to points of sale in Saudi Arabia.
