Sun Sep 15 16:24:00 UTC 2024: ## Saudi Arabia’s Inflation Rate Hits 1.6% in August, Driven by Housing and Food Costs
**RIYADH, Sept. 15 (Xinhua)** – Saudi Arabia’s annual inflation rate reached 1.6% in August, according to the Saudi General Authority for Statistics. The increase is primarily attributed to a significant rise in housing and food prices.
The report highlights an 8.9% surge in housing, water, electricity, gas and other fuel prices, with actual housing rents increasing by 10.7% this month. Apartment rental prices saw a notable 10.8% increase.
Food and beverage prices also contributed to the inflation, rising by 0.9% due in part to a 4.6% increase in vegetable prices. Restaurant and hotel prices also saw a 1.6% rise.
However, some sectors experienced price declines. Furnishing and home equipment prices fell by 3.5%, while clothing and footwear prices decreased by 3.2%. Transportation prices dropped by 3.4%, influenced by a 4.9% decline in vehicle purchase prices.
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