RIYADH: Saudi Arabia’s annual inflation rate accelerated to a 15-month high of 3.1 percent in September, up from 3 percent in August, according to data released by the General Authority for Statistics.
The increase in Consumer Price Index, or CPI, is driven by a rise in food and beverage prices, said GASTAT in a press release.
According to the GASTAT report, the annual growth in the price index for food and beverages stood at 4.3 percent in September, while meat prices surged 6.5 percent.
“Food and beverages prices were the main drivers of the inflation rate in September 2022 due to their high relative importance in the Saudi consumer basket with a weight of 18.8 percent,” said GASTAT in the report.