Saudi inflation rises to 2.9% in February

Saudi Arabia’s inflation rate rose to 2.9 percent in February YoY, following the introduction of value-added tax and energy price hikes, the latest figures from the General Authority for Statistics (GAS) showed.

The cost of living index increased to 108.1 points in February, compared to 105 points in the same month last year.

The statistics authority changed the base year for the consumer price index to 2013 from 2007 and adjusted the basket of constituent goods and services.

Most of the main groups in the CPI basket increased in February, with tobacco surging 54.7 percent.

Meanwhile, Apparel & Footwear declined steeply by eight percent.

*Updated for base year 2013

The table below shows the constituent groups of commodities and services on the Consumer Price Index (CPI).

Tobacco, transportation and hotels & restaurants showed the highest price increases, while entertainment and apparel & footwear declined.

* The increase is attributable to the application of selective tax on tobacco.