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Saudi Arabia’s inflation rose to 3.3% in December 2022, compared to the previous month, according to recent data by the General Authority for Statistics (GASTAT).
Inflation rose globally after the repercussions of the Corona pandemic, Russia-Ukraine war, impact of supply chains and rise in transportation costs.
Saudi Arabia is still among the lowest in inflation rates globally, as Minister of Finance Mohammed Al-Jadaan expected that inflation in the Kingdom to decline to about 2.5-2.6% in 2023, down from about 3.3% last year.
As for the inflation rate by city included in the report of GASTAT, all Saudi cities recorded an increase in varying proportions, with the exception of Arar, which recorded a negative inflation rate during the period.
Jeddah had the highest inflation at 6.8%, followed by Riyadh (3.8%) and Al Hofuf (3.3%).
Inflation is measured by the change percentage in the cost of living between the current period and the corresponding period of the previous year. The increase or decline of inflation is measured compared to the previous month.
The following is the inflation rate in Saudi cities for December 2022:
|
Inflation by City (December 2022) |
||
|
City |
|
Inflation rate (%) |
|
Jeddah |
|
6.8% |
|
Riyadh |
|
3.8% |
|
Al Hofuf |
|
3.3% |
|
Jizan |
|
3.0% |
|
Makkah |
|
2.2% |
|
Sakaka |
|
2.2% |
|
Hail |
|
2.1% |
|
Taif |
|
1.9% |
|
Abha |
|
1.7% |
|
Buraydah |
|
1.6% |
|
Tabuk |
|
1.6% |
|
Madina |
|
1.5% |
|
Al Baha |
|
0.9% |
|
Najran |
|
0.7% |
|
Dammam |
|
0.1% |
|
Arar |
|
(0.1%) |
|
All Cities |
|
3.3% |
The bulletin covers data related to the consumer price index (CPI) for all 13 administrative regions of the Kingdom, which includes the following cities: Riyadh, Makkah, Jeddah, Taif, Madina, Qassim, Dammam, Al Hofuf, Abha, Tabuk, Hail, Arar, Jizan, Najran, Al Baha and Al Jouf by collecting prices through field visits to pre-defined points of sale and residential units.
The selection process in each city of the survey is based on the number of population as shown in the following table:
|
Selected Cities |
||
|
Population |
City |
POS |
|
More than 1 mln people |
Riyadh, Makkah, Jeddah, Damman |
10 POS |
|
More than 400,000 and less than 1 mln people |
Madina, Taif, Al Hofuf, Buraydah, Abha Tabuk |
7 POS |
|
Less than 400,000 people |
Hail, Jizan Najran, Al Baha, Sakaka, Arar |
5 POS |
Jeddah is the highest in housing rents, 11 cities record decline
Housing, water, electricity, gas and other fuels' sector recorded an increase of about 19.2% in Jeddah, affected by actual housing rents, which recorded an increase of 23%.
This sector is the largest weight in calculating the general inflation rate at 25.5%.
Riyadh came second followed by Hail, while 11 cities recorded a decrease in housing rents in different proportions, as shown in the following table:
|
Inflation in December 2022 (Housing, Water, Electricity, Gas & Other Fuels) |
|||||
|
City |
Actual housing rents |
Home maintenance and repair |
Water supply and miscellaneous services related to housing |
Electricity, gas and other fuels |
Overall rate of the sector |
|
Jeddah |
23.05% |
(1.04%) |
-- |
1.00% |
19.24% |
|
Riyadh |
9.25% |
4.70% |
3.62% |
1.11% |
7.87% |
|
Hail |
3.35% |
(3.94%) |
-- |
1.16% |
2.68% |
|
Sakaka |
1.35% |
8.16% |
4.01% |
0.62% |
1.58% |
|
Abha |
0.22% |
0.84% |
-- |
0.89% |
0.24% |
|
Al Baha |
(0.75%) |
(1.79%) |
19.96% |
1.41% |
0.03% |
|
Makkah |
(0.85%) |
5.50% |
0.02% |
0.56% |
(0.27%) |
|
Madina |
(1.32%) |
1.41% |
-- |
0.72% |
(0.91%) |
|
Dammam |
(1.55%) |
4.51% |
-- |
1.30% |
(1.14%) |
|
Al Hofuf |
(1.62%) |
0.29% |
-- |
0.69% |
(1.25%) |
|
Buraydah |
(1.73%) |
1.17% |
-- |
1.25% |
(1.37%) |
|
Taif |
(2.81%) |
2.57% |
1.96% |
1.40% |
(2.41%) |
|
Najran |
(2.62%) |
5.35% |
(5.87%) |
(0.76%) |
(2.53%) |
|
Jizan |
(3.80%) |
5.75% |
-- |
0.63% |
(2.60%) |
|
Tabuk |
(3.32%) |
3.33% |
-- |
0.72% |
(2.71%) |
|
Arar |
(6.63%) |
1.16% |
(0.83%) |
1.43% |
(5.76%) |
|
All cities |
6.79% |
3.73% |
1.25% |
0.97% |
5.86% |
Jizan records highest inflation rate in food sector, while Al Hofuf has the lowest
Jizan topped the highest inflation rate in the food and beverages sector at 9.9%, followed by Al Baha. Al Hofuf was the lowest at 0.4%.
It is noteworthy that this sector is the second highest weight in calculating the general inflation rate at 18.78%.
|
Inflation in December 2022 (Food & Beverage) |
|||
|
City |
Food |
Beverages |
Overall rate of the sector |
|
Jizan |
11.22% |
0.02% |
9.87% |
|
Al Baha |
7.36% |
6.10% |
7.24% |
|
Arar |
6.94% |
5.11% |
6.74% |
|
Buraydah |
6.39% |
5.83% |
6.33% |
|
Sakaka |
6.16% |
7.42% |
6.31% |
|
Tabuk |
5.54% |
5.43% |
5.54% |
|
Hail |
5.86% |
2.38% |
5.50% |
|
Abha |
5.19% |
2.75% |
4.97% |
|
Makkah |
5.02% |
3.55% |
4.87% |
|
Taif |
4.74% |
1.29% |
4.42% |
|
Riyadh |
4.60% |
0.88% |
4.23% |
|
Madina |
3.42% |
3.63% |
3.46% |
|
Jeddah |
3.02% |
3.49% |
3.07% |
|
Dammam |
2.66% |
3.97% |
2.74% |
|
Najran |
1.39% |
0.23% |
1.26% |
|
Al Hofuf |
0.37% |
0.25% |
0.37% |
|
All cities |
4.33% |
2.59% |
4.17% |
Al Hofuf is the highest in transport, Al Baha is the lowest
Al Hofuf was the highest gainer in the transport sector at 14.6%, followed by Taif at 10.3%, as shown in the following table:
|
Inflation in December 2022 (Transport) |
||||
|
City |
Purchase of cehicles |
Operating personal transport equipment |
Transport services |
Overall rate of the sector |
|
Al Hofuf |
17.32% |
1.10% |
(0.18%) |
14.61% |
|
Taif |
17.09% |
0.79% |
(0.88%) |
10.31% |
|
Dammam |
6.47% |
0.78% |
1.63% |
5.38% |
|
Jizan |
3.35% |
5.35% |
8.47% |
4.60% |
|
Jeddah |
4.37% |
2.59% |
10.45% |
4.36% |
|
Makkah |
3.98% |
3.27% |
3.44% |
3.74% |
|
Riyadh |
4.95% |
2.60% |
(2.63%) |
3.56% |
|
Tabuk |
1.97% |
6.11% |
5.92% |
3.46% |
|
Buraydah |
3.69% |
1.27% |
5.39% |
3.02% |
|
Hail |
1.74% |
0.07% |
7.98% |
1.19% |
|
Abha |
1.07% |
1.32% |
(8.51%) |
0.99% |
|
Madina |
0.93% |
0.78% |
0.30% |
0.85% |
|
Najran |
(2.24%) |
1.78% |
4.50% |
0.25% |
|
Arar |
(3.35%) |
1.65% |
(3.36%) |
(0.71%) |
|
Sakaka |
(4.65%) |
1.94% |
(0.86%) |
(0.85%) |
|
Al Baha |
(6.95%) |
2.93% |
6.81% |
(5.03%) |
|
All cities |
5.04% |
2.39% |
2.13% |
4.05% |
Najran saw the highest inflation in the miscellaneous personal goods and services' sector, followed by Jizan.
Madina recorded the highest rate of inflation in furnishing, household equipment & maintenance, followed by Tabuk.
Jizan came on top of inflation in the communications sector, followed by Arar.
The CPI recorded the highest increase in restaurants and hotels sector in Makkah, followed by Najran and Arar.
The index recorded the highest increase in clothes & footwear sector in Najran, followed by Sakaka, while recreation & culture sector saw the highest inflation in Al Baha, followed by Tabuk.
The education sector recorded the highest increase Al Hofuf, followed by Riyadh. On the other hand, the healthcare sector saw the highest rate in Jizan, followed by Makkah.
Tobacco prices increased the most in Najran, followed by Makkah.
The CPI reflects price changes of a fixed basket of goods and services that includes 490 items. The items were chosen based on the results of the Household Expenditure and Income Survey conducted in 2018.
Prices are collected through the point of sale (POS) field visits.
|
Relative Importance of Major Sectors |
|
|
Expenditure Groups (2018) |
Percentage |
|
General Index |
100.0% |
|
Housing, Water, Electricity, Gas & Other Fuels |
25.50% |
|
Food & Beverages |
18.78% |
|
Transport |
13.05% |
|
Personal Goods & Services |
12.57% |
|
Furnishing, Household Equipment & Maintenance |
6.74% |
|
Communication |
5.62% |
|
Restaurants & Hotels |
5.60% |
|
Clothes & Footwear |
4.20% |
|
Recreation & Culture |
3.06% |
|
Education |
2.87% |
|
Healthcare |
1.43% |
|
Tobacco |
0.60% |
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