The Clap
The inflation rate in KSA rose to 3.1% in September 2022.
The Deets
The General Authority for Statistics indicated that the increase in inflation was due to the rise in food and beverage prices by 4.3%.
The housing, water, electricity, gas, and fuel prices also increased by 3.2%.
Biggest Driver
According to the authority, the food and beverage industry has the most significant influence on the annual inflation increase due to its large weight in the consumer price index (CPI).
What this Means
In general, inflation rates in KSA and the Gulf move within a relatively limited range despite huge leaps in the global and regional markets.
