Inflation in Saudi Arabia rises by 2.2% in May

The consumer price index (inflation rate) increased in Saudi Arabia by 2.2% during May 2022, compared to the same month last year.

The Saudi General Authority for Statistics announced today, Wednesday, that the main driver of consumer price index inflation was a 4.2 percent increase in food and beverage prices, as well as a 4% increase in transportation costs.

The food and beverage area of the authority climbed by 4.2 percent, owing to a 4.6 percent increase in food costs, including a 3.4 percent increase in meat prices, according to the authority.

The rise in the meat section had a significant impact on the rise in annual inflation in May 2022 due to its weight in the index of 18.8%.

The Transportation Department also reported a 4% increase, which was influenced by a 4.7 percent increase in vehicle purchase prices.

The Miscellaneous Personal Goods and Services category grew by 2.1 percent, owing to a 17.2 percent increase in wedding hall rental fees.

The Education Department increased by 6.2%, affected by the increase in secondary education fees by 13.8%.

The restaurants and hotels section recorded an increase of 4.1%, affected by the increase in the prices of meal services by 3.9%.

The housing, water, electricity, gas, and other fuels section recorded an increase of 0.5%, affected by the increase in housing rental prices by 0.5%.

the prices of the clothes and shoe section decreased by 1.7%, affected by the decrease in the prices of ready-made clothes by 2.6%, and the prices of cigarettes decreased by 1.2%.

The consumer price index for May 2022 was relatively stable compared to April 2022 and increased by 0.1%.

The monthly inflation index was affected by a 0.2% increase in food and beverages, which in turn was affected by a 0.2% increase in food prices.

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