Clouds move over the Riyadh skyline November 17, 2013. Picture taken November 17, 2013. REUTERS/Faisal Al Nasser
Saudi Arabia’s consumer price index rose 1.2% in January from a year earlier, fuelled by higher transport prices, government data showed on Tuesday.
Transport prices increased by 4.9%, mainly due to the rise in gasoline prices by 34.5%, the General Authority for Statistics said in a statement.
“Transport prices were the main driver of the inflation rate in January 2022 due to their high relative importance in the Saudi consumer basket,” it said, citing the segment’s 13% CPI weight on the inflation basket.
Oil prices are trading at their highest in more than seven years.
Saudi Arabia’s CPI rose 0.2% month-on-month in January, the statement said.Reporting by Saeed Azhar; Editing by Himani Sarkar
This article was originally published by Reuters.
Two ultra-luxury waterfront homes to be sold only on completion as more high-net-worth individuals want…
FIA President Mohammed Ben Sulayem says manufacturer’s announcement shows there is real momentum behind the…
Return of the FIA Formula One World Championship to Africa “a historic moment for our…
Dubai South leads off-plan sales for seventh consecutive month Dubai, UAE, 6th October, 2026: The…
The Gulf’s stock markets were tested this year, and they held. That is the real…
Dubai, UAE, 30th August, 2026: The President of Paraguay, H.E. Santiago Peña, joined FIA President…