Saudi Arabia’s Consumer Price Index or inflation rate recorded 1.9 percent during the month of December 2024, a slight fall from the previous month of November when it posted two percent on an annual basis. Saudi Arabia has the lowest inflation rates among the G20 countries. According to the data released on Wednesday by the General Authority for Statistics (GASTAT), the rise in inflation is driven by an the increase in the prices of the housing, water, electricity, gas and other fuels by 8.9 percent. It also affected by an increase of 0.8 percent in the prices of the food and beverages, and the prices of the miscellaneous personal goods and services by 2.2 percent, compared to a decrease in the prices of the transport by 2.5 percent. The increase in the prices of housing, water, electricity, gas and other fuels was affected by the increase in the group of rents paid for housing by 10.6 percent, and the increase in this section had a significant impact on the continuation of the annual inflation rate for December 2024, given the weight that this section represents 25.5 percent. On a monthly basis, the consumer price index in December recorded relative stability compared to […]