Saudi Arabia’s annual inflation rises to 2.3pc

RIYADH, May 15 (Arab News): Saudi Arabia's annual inflation rate accelerated to reach 2.3 per cent in April, up from 2.0 per cent in March, according to the General Authority for Statistics (GASTAT).

The consumer price index, or CPI, in April 2022 has surged 2 per cent when compared to the corresponding period a year earlier, primarily driven by a rise in food and beverages prices as well as transport.

Food and beverages prices increased by 4.3 per cent due to an increase in meat prices by 3.5 per cent, and vegetable prices by 13.5 per cent.

Transport prices climbed 4.6 per cent due to a rise in gasoline prices by 9.5 per cent along with a rise in car prices by around 4.1 per cent.

Personal goods and services prices increased by 2.8 per cent, mainly resulting from an increase in prices of jewelry, clocks and watches.