Riyadh - Mubasher: The annual consumer price inflation rate in Saudi Arabia reached 2% in January 2024 compared to its counterpart last year.

The Saudi General Authority for Statistics attributed this increase, according to a report issued today, Sunday, mainly to the increase in the prices of housing, water, electricity, gas and other types of fuel by 8%, food and beverages by 0.8%, and the prices of the miscellaneous personal goods and services section by 3.3%, compared to a decrease in the prices of the transportation section by 1.9%.

According to the Authority’s report, the prices of the housing, water, electricity, gas and other fuels section increased by 8%, affected by the increase in housing rents by 9.7% in January 2025, affected by the increase in villa rents by 7.7%. The increase in this section also had a significant impact on the continuation of the annual inflation rate for December 2024, given the weight that this section represents, which amounts to 25.5%.

The prices of the food and beverages section rose by 0.8%, driven by a 5.6% increase in vegetable prices, while the prices of the miscellaneous personal goods and services section rose by 3.3%, affected by a 21.6% increase in the prices of jewelry, watches of all kinds, and valuable antiques.

The prices of the restaurants and hotels section also recorded an increase of 0.8%, driven by a 3.1% increase in the prices of hotel services and furnished apartments, while the education section recorded an increase of 0.6%, affected by the increase in the prices of tuition fees for the two stages.
Pre-primary and primary education at 0.6%.

On a monthly basis, the consumer price index in January 2025 recorded a relative increase compared to December 2024, as it increased by 0.3%.