Inflation in Saudi Arabia grew to 4.2 percent year-on-year this January, representing the highest level since July 2012, and marking a leap from 3.9 percent in December.
The figures were issued in the latest report by the Central Department for Statistics and Information (CDSI), and Riyadh-based Jadwa Investment claims the rise can be largely attributed to higher food prices, along with increased expenses and services prices. When combined, these increased contributed 2.3 percentage points to the overall inflation figure.
The contribution of rent and housing services fell 1.2 percentage points in January, compared with 1.5 percentage points in December.
In its own report, Jadwa said: “Our measure of core inflation has also accelerated to 2.7 percent in January compared with 2.1 percent in December.”
Read more: http://www.arabianbusiness.com/saudi-inflation-accelerates-4-2--489816.html
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