Riyadh, Saudi Arabia — Saudi Arabia’s inflation rose to 1.7 percent in November compared with the previous month, according to recent data by the General Authority for Statistics (GASTAT).
The cost-of-living index for November rose to 110.06 points, according to the base year 2018, from 108.25 points in the same month a year earlier, Argaam reported.
Inflation is measured by the percentage change in the cost of living between the current period and the corresponding period of the previous year. The increase or decline in inflation is measured compared to the previous month.
The higher consumer price index (CPI) in November was mainly impacted by a 7.8 percent rise in housing, water, electricity, gas, and other fuel prices, as well as a 1.4 percent increase in food and beverage prices, Argaam reported.
Actual housing rents rose by 9.4 percent in November, owing to a 12.8 percent increase in apartment rental prices. This increase had the greatest impact on inflation rates as rents account for 21 percent of the index.
On the other hand, the furnishing and household equipment section fell 2.9 percent YoY on a 5 percent YoY decline in the prices of furniture, carpets, and floor coverings.
The index also saw a 4.1 percent annual slump in the clothing and footwear section during the same month, affected by lower prices of ready-made clothing by 6.2 percent.
The CPI reflects price changes for a fixed basket of goods and services, including 490 items. The items were chosen based on the results of the Household Expenditure and Income Survey conducted in 2018.
On a monthly basis, inflation rose in Riyadh, Dammam, Abha, Buraydah, and Sakaka but dropped in Arar, Hail, Madinah, Jeddah, and Najran.
Meanwhile, Makkah, Taif, Al Hofuf, Tabuk, Jizan, and Al Baha reported negative inflation figures for the same month.