• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Editor's Pick

Saudi Arabia’s inflation reaches 2% in November

by December 15, 2024
written by December 15, 2024

RIYADH (Reuters) – Saudi Arabia’s annual inflation rate continued to slowly accelerate, hitting 2% in November compared to 1.9% in October, according to government data released on Sunday, again driven by an increase in housing rents.

Rents for housing increased by 10.8% in November, with apartment rental prices increasing by 12.5%, the General Authority for Statistics said, pushing up prices for the combined housing, water, electricity, gas and other fuels category by 9.1%.

These categories had a significant impact on the overall acceleration of inflation, with the rising cost of housing and rent driving price increases for much of this year.

Prices in the food and beverage category rose by 0.3% in November, while those for personal goods and services were up 2.7%.

Prices in the restaurants and hotels category rose by 1.5%, driven by a 5.9% increase in the prices for hotel and furnished apartment services.

Transportation prices continued to decrease, falling by 2.5%.

On a month-on-month basis, prices increased by 0.3% in November.

Inflation in Saudi Arabia has hovered between 1.5% and 1.9% for most of the year, with it reaching 2% in November after it began inching up in July.

Inflation in the country has remained relatively low compared with global levels, and the International Monetary Fund expects Saudi inflation to remain stable at about 2% over the medium term.

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
Bank of Korea vows to keep markets stable after Yoon impeachment
next post
Analysis-Macron has a new prime minister but the same old problems

You may also like

China central bank conducts 1.7 trln yuan of...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

ECB president fears loss of central bank independence

January 27, 2025

European tech shares tumble as China’s AI push...

January 27, 2025

Futures slip as investors eye China’s latest AI...

January 27, 2025

Markets may be repeating the mistake of 2019,...

January 27, 2025

How billionaire Caltagirone could influence Italy’s banking M&A...

January 27, 2025

How Italy’s MPS went from near collapse to...

January 27, 2025

Analysis-To weather Trump, emerging market investors look to...

January 27, 2025

Chinese AI startup DeepSeek overtakes ChatGPT on Apple...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Procter & Gamble to cut 7,000 jobs as part of broader restructuring

      June 6, 2025
    • Shein and Temu see U.S. demand plunge as loophole for cheap goods closes

      June 6, 2025
    • Shein and Temu see U.S. demand plunge as loophole for cheap goods closes

      June 5, 2025
    • This California startup is cleaning water and removing CO₂ from the atmosphere — all at a reduced cost

      June 5, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (504)
    • Stock (6,426)

    Latest News

    • Procter & Gamble to cut 7,000 jobs as part of broader restructuring
    • Shein and Temu see U.S. demand plunge as loophole for cheap goods closes

    Popular News

    • European stocks close higher after UK CPI release and positive US CPI data
    • Column-S&P 500 counts on final ‘Mag 7’ push for best year this century: McGeever

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy