The consumer price index (CPI) in Saudi Arabia was at 2.7% in April, unchanged from the previous month, driven mainly by price increases in housing, utility, and energy, according to official data released Monday.
Housing rentals went up by 9.6% in April, reflecting the 22.2% increase in rent for apartments, according to a report from Saudi General Authority for Statistics (GASTAT). GASTAT stated that rent prices were the main driver of the inflation rate in April due to their high relative importance in the Saudi consumer basket, with a weight of 21%.
Food and beverage prices recorded a 1% increase, particularly in milk and milk products, and eggs, which rose 10.9%. The prices of transport edged up 1.1% helped by the increase in transport services prices by 6%.
Increases were also seen in the prices of restaurants and hotels, rising by 6.2%, helped by the increase in catering services prices by 6.1%, GASTAT data showed. Prices in education went up by 3%, mainly due to the increase in pre-primary and primary education fees by 4.5%. A 3.1% increase was recorded in the prices for recreation and culture, due to the increase in package holidays, which rose by 12.6%.
In contrast, declines were recorded in the prices of furnishings, household equipment and maintenance, which fell by 1.3%, due to the dip in furniture and furnishings, carpets and other floor coverings, which dropped by 2.8%. The prices of clothing and footwear also declined, falling by 2.1%, due to the decrease in garments prices, which fell 3.7%.
