RIYADH, 21 September – Saudi Arabia’s consumer price index (CPI) was up 3 per cent in August compared to the same period last year, General Authority for Statistics (Gastat) data showed on Thursday.
The data showed an accelerating rise from a 2.7 per cent increase in July, driven by transport and higher food and beverages prices.
Both sectors, which are the main drivers of inflation, rose 4 per cent each in August, Gastat said in a statement.
Prices rose 0.4 per cent on a monthly basis, compared to a 0.5 per cent month-on-month rise in July.
“The monthly CPI was affected by the increase of food and beverage prices by 0.8 per cent, mainly due to the increase in food prices by 0.9 per cent,” Gastat said.
Meat prices, in particular, rose 6.7 per cent causing the rise in food and beverages, which contribute 18.8 per cent of the consumer basket. — Arabian Business