Saudi Arabia: Inflation drops to lowest level since February 2022 in September
Inflation inched down to 1.7% in September, following August’s 2.0%. September’s figure represented the lowest inflation rate since February 2022. The result was driven by falling prices for food and non-alcoholic beverages and easing price pressures for housing and utilities. Moreover, prices for transport dropped.
Accordingly, the trend pointed down slightly, with annual average inflation coming in at 2.7% in September (August: 2.8%).
Lastly, consumer prices rose 0.01% in September over the previous month, coming in below August’s 0.03% increase. September’s result marked the softest rise in prices since February.