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.
Riyadh Air is preparing to expand its presence in India beyond Mumbai, with the Saudi…
The AIM Global Foundation increased its momentum in interacting with the Indian investment community and…
Sales transactions in Dubai's office market totaled Dh15.8 billion in the first six months of…
New fäm Properties report shows 90%-100% absorption rate for thousands of apartments and villas to…
During the meeting, President Kast signed the FIA’s United Against Online Abuse charter Dubai, UAE,…
The IMF approved today a successor two-year arrangement for Chile under the Flexible Credit Line…