Stock Groups

Saudi Arabia’s Jan inflation rate up 1.2% y/y

by Mike Robinson

[ad_1]

© Reuters. FILEPHOTO: The clouds move above the Riyadh skyline on November 17, 2013. Picture taken November 17, 2013. REUTERS/Faisal Al Nasser

DUBAI (Reuters – Saudi Arabia’s Consumer Price Index rose 1.2% to January, fueled by rising transport costs, according to government data on Tuesday.

The General Authority for Statistics stated in a statement that transport prices rose by 4.9% due to an increase in gasoline prices of 34.5%.

It stated that “Transport prices were a major driver of inflation in January 2022 because they have a high relative importance within the Saudi consumer basket”, citing its 13% CPI weight in the inflation basket.

The oil prices have reached their highest level in seven years. [O/R]

According to the statement, Saudi Arabia’s CPI increased 0.2% in January over last month.

Disclaimer: Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. You should be aware of the potential risks and financial costs involved in trading the financial market. It is one the most dangerous investment types.

[ad_2]