RIYADH: Consumer prices increased 1.7% year over year in April, but Saudi Arabia’s inflation rate remained comparatively steady. The Consumer Price Index increased by 0.2 percent month over month in April, according to data issued by the Kingdom’s General Authority for Statistics. This was due to modest rises in a number of categories, including food, housing, and transportation.
With prices up 3.8% from the previous year, the housing, water, electricity, gas, and other fuels category remained the largest contributor to annual inflation. A 4.8% increase in actual home rents was the primary cause.
Saudi Arabia’s inflation rate stayed very low when compared to the economies of its neighbors in the Gulf. While Qatar’s most recent inflation figure was 2.51 percent in February, Kuwait reported an annual inflation rate of 2.06 percent in March. In March, Bahrain reported 1.1 percent annual inflation.
According to GASTAT’s most recent data, “the prices of furnishings, household equipment and routine household maintenance decreased by 0.5 percent affected by the decline in the prices of furniture, furnishings and loose carpets by 1.9 percent.
Also Read:
Shamzani Hussain | Shaping the Future of the Financial Industry by Innovating and Making an Impact
Dr. Sofica Bistriceanu | Bridging Medicine, Research, and Human Connection
