Saudi inflation rises 2.3% in May GASTAT

Riyadh: Saudi Arabia's Consumer Price Index (inflation) has registered a 2.3% year-on-year increase in May.

Inflation’s rise was attributed to a 54.1% jump in tobacco section after putting the selective tax into effect, according to the monthly report by the General Authority for Statistics (GASTAT).

Prices in transport section rose 10% during May, compared to the same month in 2017, while prices in restaurants and hotels section increased 7.1%.

Prices in food and beverages section levelled up 5.3%, followed by 3.6% increase in the health section, 1.6% in communication section, 0.5% in education, and 0.2% in furnishings, household equipment, and maintenance section.

On the flipside, prices in clothing and footwear, housing, water, electricity, gas and other fuels, miscellaneous goods and services, and recreation and culture sections went down 8.3%, 0.4%, 0.4%, and 0.3%, respectively.

On a monthly basis, the kingdom’s inflation inched down 0.4% to 107.3 points, compared to 107.7 points during April.

Prices in tobacco, health, education, and restaurants and hotel sections remained unchanged in May, compared to April, whereas prices in housing, water, electricity, gas and other fuels section fell 0.7%, and in food and beverages section inched down 0.6%.