Saudi Arabia’s inflation rate steady at 1.6 per cent

Dubai: The General Authority for Statistics (GASTAT) releases the Consumer Price Index (CPI) for August 2024.

The CPI measures change over time in the prices paid by consumers for a representative basket of goods and services.

The CPI data reveals that Saudi Arabia's annual inflation rate remained steady at 1.6 per cent in August 2024, reflecting consistent stability throughout the year and highlighting the country's strong economic resilience.

This stable inflation rate demonstrates the effectiveness of Saudi Arabia's economic strategies and timely responses to global inflation and price fluctuations.

GASTAT's CPI measures the cost of a fixed basket of 490 goods and services purchased by consumers. This basket, determined by a 2018 household income and expenditure survey, includes selected items with specific weights. Prices are gathered through on-site visits to various sales points.