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  • World - Asia
  • Updated: January 15, 2023

Saudi Arabia Inflation Reaches 3.3 Per Cent

Saudi Arabia Inflation Reaches 3.3 Per Cent

Saudi Arabia’s annual inflation rate edged up to 3.3 per cent in December from 2.9 per cent in November, data showed on Sunday.

Saudi Arabia’s General Authority for Statistics said that prices rose 0.3 per cent month on month in December, compared with a 0.1 per cent monthly rise in November.

The statistics authority said; “The rise was as a result of the increase in actual rentals for housing by 1.1 per cent.

“The housing category rose 1.8 per cent in 2022, mainly resulting from the increase in actual rentals for housing by 2.0 per cent.”

The finance ministry, in its 2023 budget statement, had said it expected an average inflation rate of 2.6 per cent at the end of 2022.

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