Saudi Arabia’s inflation in April unchanged at 2.7 pct

Housing, water, electrical energy, fuel, and different fuels rose by 8.1 p.c from a yr earlier, whereas the meals and beverage sector – the main driver for inflation throughout a lot of 2022 – rose by 1.0 p.c the information from the Basic Authority for Statistics confirmed.

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General rents for housing grew 9.6 p.c in April 2023. House rents gained 22.2 p.c following the same rise in March.

Inside the meals sector, milk, milk merchandise and eggs rose by virtually 11 p.c.

Client costs have been up 0.4 p.c in April from March, the statistics authority stated.

The inflation outlook for the Gulf nations is muted in comparison with that anticipated in lots of main economies, a Reuters ballot discovered.

For the complete yr, it forecasts the area’s inflation could be between 2.1 p.c and three.3 p.c and reduce additional in 2024.

Learn extra:

Saudi Arabia’s unemployment charge drops considerably as extra ladies be part of workforce

Gulf to see slower tempo of progress in 2023 on decrease oil revenues

Saudi Arabia finances slips into deficit as spending accelerates