Saudi Arabia: Inflation stabilizes in October from the prior month
Latest reading: Consumer prices were up 2.2% on a year-on-year basis in October, unchanged from the prior month’s reading.
Relative to the prior month’s figures, there were higher price pressures for food and non-alcoholic beverages (+1.5% in annual terms vs +1.1% in September) and clothing and footwear (+0.3% vs +0.1% in September). In contrast, there were milder price pressures for housing and utilities (+4.5% vs +5.2% in September) and recreation and entertainment (+2.4% vs +2.7% in September). Meanwhile, the change in transport prices was the same as in the prior month (+1.6% in October and September).
Finally, consumer prices were up 0.28% in October on a month-on-month basis, following a 0.06% decrease in the previous month.