In August, Saudi Arabia's annual inflation rate rose to 1.6% primarily due to housing, utilities, and fuel costs.

In August, Saudi Arabia's annual inflation rate rose to 1.6%, driven primarily by an 8.9% increase in housing, utilities, and fuel costs. Actual housing rents surged by 10.7%. Food and beverage prices rose modestly by 0.9%, while education costs also increased by 1.6%. Despite these rises, Saudi Arabia's inflation remains among the lowest in the Middle East and North Africa, reflecting efforts to stabilize the economy amid global price pressures.

September 15, 2024
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