Saudi Arabia’s yearly inflation stayed the same at 2.3% in April, even though housing and food prices went up
Saudi Arabia’s inflation stayed the same at 2.3% in April, just like in March, according to the General Authority for Statistics (GASTAT) on Thursday.
Saudi Inflation
In April, inflation in Saudi Arabia went up mainly because prices for housing, water, electricity, gas, and other fuels increased by 6.8%. Food and drinks prices also rose by 2.2%, according to the latest report from GASTAT.
In April 2024, Saudi Arabia’s inflation rate was 1.6%.
The biggest reason for the rise in the housing category was an 8.1% increase in rents, especially a big jump of 11.9% in apartment rents. This housing category is very important because it makes up 25.5% of the prices people pay for things.
Food and drink prices went up mostly because vegetable prices rose by 9.4%. Prices for personal goods and services grew by 3.5%, mainly due to a 21.9% rise in the cost of jewelry, watches, and antiques. Restaurants and hotels also became 2% more expensive, because catering services went up by the same amount.
Education costs increased by 1.3%, mostly because fees for education after high school (but not university) rose by 5.6%.
Some prices went down. Furniture and home equipment prices dropped by 1.8%, mostly from a 3.5% fall in furniture, carpets, and flooring. Clothes and shoes prices fell by 1.2%, led by a 2.1% drop in ready-made clothes. Transportation costs went down by 1%, mainly because buying vehicles got 1.8% cheaper.
Month-to-month changes
From March to April, inflation went up slightly by 0.3%. This small rise was mostly because housing and utility costs increased by 0.3%, with rents going up 0.4%.
Food and drinks prices rose 0.4%, helped by a 0.7% increase in meat and poultry prices. Personal goods and services went up 0.8%, and restaurant and hotel prices grew by 0.7%. Furniture and home equipment prices rose by 0.4%, education by 0.2%, and clothes and shoes by 0.2%.
On the other hand, prices for recreation and culture went down 0.4%. Transportation, communication, and health prices each dropped by 0.1%. Tobacco prices stayed the same.
Saudi Economy
Saudi Arabia’s economy grew by 2.7% compared to the first quarter of last year. This growth was helped by strong gains in the non-oil sectors, according to early data from GASTAT.
Non-oil businesses grew by 4.2%, and government services increased by 3.2%. However, oil activities fell by 1.4% compared to the same time in 2024.
Saudi Arabia is working hard on its Vision 2030 plan, which aims to reduce its dependence on oil by growing the private sector and expanding non-oil industries.
Published: 16th May 2025
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