JEDDAH: Saudi Arabia’s annual inflation eased to 1.7 percent in October, matching the rate recorded in April and down from 1.9 percent in September, according to official data. Higher housing, transport and food costs continued to drive annual price growth, while consumer prices rose 0.1 percent month on month, according to a report by the General Authority for Statistics, or GASTAT. The housing, water, electricity, gas and other fuels category recorded an annual increase of 3.5 percent, with actual housing rents also rising by 3.5 percent. Insurance and financial services prices increased by 3.5 percent, led by a 6.5 percent rise in insurance services. Transport costs climbed 2.3 percent, while food and beverages prices rose 1.1 percent. Other categories recording annual increases included recreation, sport and culture, at 2.7 percent, and restaurants and accommodation services, at 1.8 percent. Education prices rose 1.3 percent, while personal care, social protection and miscellaneous goods and services increased by 1 percent. By contrast, prices for furnishings, household equipment and routine household maintenance declined by 0.5 percent, while clothing and footwear prices fell 0.2 percent.
Housing and utility costs remained the largest contributor to annual price growth, followed by transport and food, according to GASTAT.
“The housing, water, electricity, gas, and other fuels division was the main contributor to the annual inflation, with a contribution…
