Inflation in Saudi Arabia has accelerated to 4.2 percent year-on-year in January this year, the highest level since July 2012, compared with 3.9 percent the previous month, according to the latest report by the Central Department for Statistics and Information (CDSI).
The Riyadh-based Jadwa Investment said rise is mostly due to higher food and other expenses and services prices which both contributed 2.3 percentage point to the overall inflation figure, while the contribution of rent and housing related services inflation fell to 1.2 percentage point in January compared with 1.5 percentage point in the previous month.
“Our measure of core inflation has also accelerated to 2.7 percent in January compared with 2.1 percent in December,” the Jadwa report said
Read more: http://www.arabnews.com/high-food-prices-add-saudi-infaltion
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