RIYADH: Saudi Arabia’s annual inflation rate edged up to 1.8 percent in July, with housing rents continuing to drive price gains in the Kingdom, official data showed.
According to the latest report by the General Authority for Statistics, the country’s consumer price index rose 0.2 percent in July from the previous month, reflecting moderate increases across several categories, including housing, transport, and restaurants.
Saudi Arabia’s inflation remained among the lowest in the Gulf region. Kuwait’s annual inflation was 2.19 percent in June, while Qatar’s latest reading stood at 2.21 percent. Bahrain and Oman recorded inflation of 2.3 percent and 2.8 percent, respectively, over the same month.
The International Monetary Fund said in June that Saudi inflation is expected to average 2.2 percent in 2026, with higher shipping and insurance costs likely to be partly offset by softer rent inflation and government price controls on some fuel and food items.
In its latest report, GASTAT stated that the annual inflation rate in July was driven by “a rise in housing, water, electricity, gas, and other fuel prices by 4.2 percent, food and beverage prices by 1.5 percent, and transport prices by 1.4 percent.”
