Saudi Arabia: Inflation picks up in January
Consumer prices increased 0.22% over the previous month in January, contrasting December’s 0.22% dip. January’s print reflected increasing transportation and communication prices.
In January, inflation increased to 5.7% from 5.3% in December. Elevated inflation in recent months has been due to the increase in the value-added tax rate from 5% to 15% in July. Meanwhile, annual average inflation increased to 3.9% in January, up from 3.5% in the previous month.