The Al-Eqtisadiah newspaper reported that the inflation rate in Saudi Arabia rose year on year in September last year by 3.1% compared to the same month last year and 0.3% month on month.
In a report based on official data verified by its reporting arm, Al-Eqtisadiah (a Saudi newspaper) explained that “Last month’s inflation in Saudi Arabia is the highest since June 2021 at 6.2%.”
The report stated that “inflation rose last month mainly due to a rise in prices for food and beverages, the second section by weight in the index, by 4.3%, as a result of a 4.6% increase in food prices (meat and poultry rose 6.5%, milk and eggs 14.5%, oils and fats 12.4%.
And he pointed out that “the largest department of housing and communal services and water supply has risen in price by 3.2%, which was affected by an increase in rental prices by 3.6%.”
Prices for transport, the third category by weight, rose 3.8% as a result of a 4.6% increase in purchase prices for cars, Al-Eqtisadiah reported.
According to the newspaper, in the department of education “an increase of 5.7% as a result of an increase in fees for secondary and secondary education by 10.1% and for primary and preschool education by 9.3%.
The report added: “The section of restaurants and hotels increased by 7.5% as a result of an increase in prices for food services by 7.6%, and prices in restaurants and cafes by 8.5%, on the contrary, the section of clothes and shoes decreased by 1% . %.
The report notes that “last month’s inflation is the 33rd consecutive increase: in January 2020 it rose by 0.7%, in February by 1.2%, in March by 1.5%, in April – by 1.3%, in May – by 1.1%, and in May – by 0.5%. in June, in August – by 6.2%, in September – by 5.7%, in October and November – by 5.8%, in December – by 5.3%, in January – by 5.7%, in February – by 5.2%, in March – by 4.9%, in April – by 5.3%. and 5.7% in May, while it rose by 6.2% in June, 0.4% in July, 0.3% in August last year and 0.6% in September, 0.8% in October last year, 1.1% in November, 1.2% in December and up 1.2% in January 2022, 1.6% in February, 2% in March, 2.3% in April 2022 and 2.2% in May, 2.3% in June and 2.7% in July.
Source: The Economist.