Inflation in Saudi Arabia reaches 1.7% in October

RIYADH — Inflation or Consumer Price Index (CPI) in Saudi Arabia registered an annual increase of 1.7 percent in October 2026 compared to the same month last year, according to data released on Sunday by the General Authority for Statistics (GASTAT). The authority attributed the rise primarily to a 3.5 percent increase in housing, water, electricity, gas and other fuel prices, alongside a 1.1 percent rise in food and beverage prices and a 2.3 percent increase in transportation prices.In terms of consumer spending, the report revealed that actual housing rents increased by 3.5 percent, while prices in insurance and financial services also rose by 3.5 percent, driven by a 6.5 percent increase in insurance service prices.Prices in the recreation, sports and culture sector climbed by 2.7 percent, reflecting a 4.6 percent increase in holiday package prices. Passenger transportation services recorded a more substantial rise of 9.5 percent. Conversely, prices in the furniture, household appliances and routine home maintenance category declined by 0.5 percent while those in the clothing and footwear category fell by 0.2 percent.The housing, water, electricity, gas and other fuels category emerged as the largest contributor to the annual inflation rate, accounting for 0.7 percentage points. This was followed by transportation at 0.3 percentage points, food and beverages at 0.2 percentage points, and personal care, social protection and other goods and services at 0.1 percentage points. The remaining categories collectively contributed 0.4 percentage points.On a month-on-month basis, the Consumer Price Index (CPI) increased by 0.1 percent in October compared to September 2026. The rise was driven by a 0.2 percent increase in housing, water, electricity, gas and other fuel prices, supported by a 0.4 percent rise in actual housing rents. Food and beverage prices also increased by 0.2 percent, while insurance and financial services rose by 1.5 percent, recreation, sports and culture by 0.2 percent, clothing and footwear by 0.4 percent, and health by 0.2 percent.Conversely, prices in personal care, social protection and other goods and services declined by 0.6 percent. Prices remained unchanged in transportation, restaurants and accommodation services, furniture, household appliances and routine home maintenance, education services, and tobacco.The Wholesale Price Index (WPI) in the Kingdom recorded an annual increase of 4.5 percent in October 2026 compared to the same month in 2025, according to GASTAT report. The increase was primarily driven by higher prices of other transportable goods, excluding metal products and machinery, as well as food, beverages, tobacco and textiles.Prices of other transportable goods rose by 8 percent, reflecting a 24.2 percent increase in basic chemical prices and a 5.5 percent rise in refined petroleum products and fuels.Meanwhile, prices of food, beverages, tobacco and textiles increased by 1.6 percent, driven by a 2.6 percent rise in the prices of meat, fish, fruits, vegetables and oils, alongside a 1 percent increase in grain mill products, starches and other food products.Prices of agricultural and fishing products climbed by 4.1 percent, supported by increases of 4.7 percent in agricultural product prices and 3.3 percent in live animals and animal products. Prices of ores and minerals also rose by 2 percent, reflecting an equivalent increase in the prices of stones and sand. In contrast, prices of metal products, machinery and equipment declined by 0.3 percent, mainly due to a 3.5 percent decrease in basic metal prices.On a monthly basis, the Wholesale Price Index increased by 1.1 percent in October compared to September 2026. The increase was primarily driven by a 1.9 percent rise in the prices of other transportable goods, underpinned by a 3.1percent increase in basic chemical prices and a 2.8 percent rise in refined petroleum products and fuels.Prices of agricultural and fishing products also increased by 0.6 percent, while food, beverages, tobacco and textiles recorded a 0.2 percent rise. Conversely, prices of ores and minerals declined by 0.2 percent, while those of metal products, machinery and equipment remained virtually unchanged.