Consumer spending continues to be on the rise in the Kingdom: Consumer spending via point-of-sale (PoS) transactions went up 6.3% w-o-w in the week ending Saturday, 22 March to c. SAR 14.5 bn, according to the Saudi Central Bank’s report (pdf). The number of weekly transactions also rose by 0.3% w-o-w to 193.6 mn.

The details: PoS transactions on jewelry once again saw the largest increase in terms of value, growing 29.9% w-o-w to SAR 544.4 mn, followed by hotels, whose value rose by 24.8% to SAR 440 mn. Clothing and footwear rose in value at the third highest rate at 24.5% w-o-w, to just under SAR 1.9 bn.

Jewelry prices saw a significant rise over the last month: The price of jewelry, watches, and precious antiques rose by 26.7% in February, according to the General Authority for Statistics’ (Gastat) latest consumer price index (pdf).

Riyadh once again had the highest value of PoS transactions at SAR 4.9 bn, followed by Jeddah at just under SAR 2.2 bn and Mecca at SAR 933.3 mn.

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