Saudi Gazette Report

RIYADH — Inflation in Saudi Arabia recorded a slight increase during the last month of January, reaching 3.4 percent compared to 3.3 percent in December 2022, according to the latest report of the General Authority for Statistics (GASTAT).

There has been an increase in the prices of housing, water, electricity, gas, and other fuels, in addition to food and beverages for the second month in a row.

The GASTAT said in its report that the consumer price index rose in January by 3.4 percent, and this rise is attributed to the increase in the prices of housing, water, electricity, gas, and other fuels by 6.6 percent, and food and beverages by 4.2 percent.

The actual housing rents increased by 7.7 percent in January, reflecting the increase in apartment rental prices by 19.3 percent. The increase in this segment had a significant impact on increasing annual inflation, given its weight in the index by 25.5 percent.

The authority said that food prices also increased by 4.3 percent, affected by the increase in the prices of meat and poultry by 6.1 percent, and by an increase in the prices of milk and egg products by 15.8 percent.