Inflation in Saudi Arabia retreats to 3% in October

السعودية: انخفاض معدل التضخم عند 3% في أكتوبر 2022

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Saudi Arabia’s inflation dropped at 3% in October compared to September, according to recent data by the General Authority for Statistics (GASTAT).

The cost-of-living index for October rose to 108.11 points, according to the base year 2018, compared to 104.95 points in the same month a year earlier.

Inflation is measured by the change percentage in the cost of living between the current period and the corresponding period of the previous year. The increase or decline of inflation is measured compared to the previous month.

Saudi Inflation Rate
Month	Inflation rate
January 2021	5.7 %
February	5.2 %
March	4.9 %
April	5.3 %
May	5.7 %
June	6.2 %
July	0.4 %
August	0.3 %
September	0.6 %
October	0.8 %
November	1.1 %
December	1.2 %
January 2022	1.2 %
February	1.6 %
March	2.0 %
April	2.3 %
May	2.2 %
June	2.3 %
July	2.7 %
August	3.0 %
September	3.1 %
October	3.0%

The increase in the consumer price index (CPI) was mainly driven by a 4.4% year-on-year (YoY) rise in food and beverage prices, in addition to a 3.3% increase in housing, water, electricity, gas & other fuels prices.

The table below illustrates the YoY change in October’s CPI:

CPI YoY Comparison – October 2021-2022
Main Groups	Change
Restaurants & Hotels	6.8 %
Transport	4.4 %
Food & Beverages	4.4 %
Education	3.6 %
Housing, Water, Electricity, Gas & Other Fuels	3.3 %
Recreation & Culture	2.9 %
Communication	1.3 %
Healthcare	1.1 %
Furnishing, Household Equipment & Maintenance	0.9 %
Personal Goods & Services	0.9 %
Tobacco	0.2 %
Clothing & Footwear	(1.2%)

Inflation fell in Jizan, Dammam, Sakaka, Riyadh, Tabuk, and Taif.

On the other hand, inflation rose in Jeddah, Al Hofuf, Hail, Abha, Buraidah, Madinah, and Makkah, but was stable in Al Baha. It registered a negative rate in Arar and Najran. The inflation rate in Saudi cities is as follows:

Inflation Rate by City
	2021	2022
city	October	June	July	August	September	October
Riyadh	1.7%	2.6 %	3.3 %	3.6 %	3.2%	2.8%
Makkah	1.7%	2.1 %	1.8 %	1.7 %	2.4%	2.5%
Jeddah	(1.5%)	2.4 %	3.1 %	3.8 %	4.3%	5.4%
Dammam	--	1.7 %	2.3 %	3.3 %	3.1%	2.2%
Madinah	0.5%	2.0 %	2.0 %	1.9 %	2.3%	2.4%
Taif	(0.3%)	0.9 %	1.3 %	1.7 %	1.6%	1.5%
Al Hofuf	(0.7%)	1.1 %	1.7 %	1.8 %	2.7%	3.3%
Abha	(2.4%)	2.1 %	2.6 %	2.5 %	2.7%	2.9%
Buraidah	0.6%	2.1 %	2.0 %	2.1 %	2.2%	2.3%
Tabuk	3.5%	1.5 %	1.4 %	1.9 %	2.0%	1.7%
Hail	0.8%	1.0 %	1.1 %	1.5 %	1.6%	2.2%
Jizan	4.2%	6.0 %	6.2 %	5.5 %	5.3%	2.1%
Najran	8.9%	0.5 %	(0.05%)	(0.4%)	(0.6%)	(0.5%)
Al Baha	2.3%	3.7 %	1.9 %	2.2 %	1.7%	1.7%
Sakaka	2.7%	3.7 %	3.3 %	3.5 %	3.9%	3.3%
Arar	1.5%	2.0 %	2.0 %	1.6 %	0.9%	(0.1%)
Total	0.8%	2.3 %	2.7 %	3.0 %	3.1%	3.0%

The CPI reflects price changes of a fixed basket of goods and services that includes 490 items. The items were chosen based on the results of the Household Expenditure and Income Survey conducted in 2018.

Prices are collected through the point of sale (POS) field visits.

Relative Importance of Major Sections
Expenditure Groups (2018)	Percentage
General Index	100.0%
Housing, Water, Electricity, Gas & Other Fuels	25.50%
Food & Beverages	18.78%
Transport	13.05%
Personal Goods & Services	12.57%
Furnishing, Household Equipment & Maintenance	6.74%
Communication	5.62%
Restaurants & Hotels	5.60%
Clothes & Footwear	4.20%
Recreation & Culture	3.06%
Education	2.87%
Healthcare	1.43%
Tobacco	0.60%

Details and Historical Data of Inflation

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