GASTAT: Inflation falls 1.5% in a year

GASTAT: Inflation falls 1.5% in a year

Saudi Gazette report RIYADH — The Consumer Price Index or inflation in Saudi Arabia recorded a decrease of 1.5 percent during the month of December 2023, compared to December 2022. The inflation registered a slight decrease of 0.2 percent in December compared to the previous month of November, which recorded a rate of 1.7 percent.According to the latest data released by the General Authority for Statistics (GASTAT), there is a decrease in the prices of food and beverages by 0.3 percent, transport 0.4 percent, home furnishings and equipment 0.4 percent, clothing and shoes 0.3 percent, health segment 0.2 percent, communications 0.1 percent, and the entertainment and culture 0.1 percent. On the other hand, the prices of services and education, as well as tobacco products did not record any significant relative change in the month of December 2023.The monthly inflation index was affected by an increase in housing, water, electricity, gas and other types of fuel by 0.7 percent, which in turn was affected by an increase in actual housing rental prices by 0.8 percent. The prices of both restaurants and hotels increased by 0.4 percent, and the miscellaneous personal goods and services section increased by 0.4 percent.The authority attributed the