{"id":94467,"date":"2025-02-17T00:00:00","date_gmt":"2025-02-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/02\/17\/inflation-slightly-up-to-2-0-y-o-y-in-january\/"},"modified":"2025-02-17T00:00:00","modified_gmt":"2025-02-17T00:00:00","slug":"inflation-slightly-up-to-2-0-y-o-y-in-january","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/02\/17\/inflation-slightly-up-to-2-0-y-o-y-in-january\/","title":{"rendered":"Inflation slightly up to 2.0% y-o-y in January"},"content":{"rendered":"

<\/strong>Inflation rebounded slightly to 2.0% y-o-y<\/strong> in January 2025,<\/strong> up from 1.9% in December<\/a>, according to the General Authority for Statistics\u2019 (Gastat) latest consumer price index (pdf)<\/a>. This marks a continued overall upward trend for the Kingdom\u2019s inflation figures over the last five months, with last month\u2019s figures being the only decline in inflation since August.<\/p>\n

On a monthly basis, <\/strong>consumer prices were up 0.3% on the back of a 0.3% uptick in the housing, water, electricity, gas, and other fuels category. Gastat\u2019s full report on January\u2019s average prices of goods and services is available here (pdf)<\/a>.<\/p>\n

Rental prices were once again the culprit:<\/strong> The heaviest component in the Saudi consumer basket \u2014 housing, water, electricity, gas and other fuels \u2014 saw an 8.0% y-o-y increase, primarily driven by a 9.7% rise in home rentals, in addition to a 7.7% hike in villa rentals.<\/p>\n

Food prices also continued its upward move:<\/strong> A 5.6% y-o-y increase in vegetable prices drove food and beverage prices up by 0.8% y-o-y. Restaurants and hotels also rose by 0.8%, driven by a 3.1% y-o-y rise in the cost of hotel and furnished apartment services. <\/p>\n

Education also felt the pinch, edging up by 0.6% y-o-y <\/strong>on the back of an 0.6% y-o-y increase in pre-primary and primary education costs.<\/p>\n

A few items from the kingdom\u2019s consumer basket cooled off:<\/strong> Furnishing and home equipment prices fell 2.4% y-o-y, driven by a 4.0% decline in furniture, carpets, and flooring prices. Meanwhile, clothing and footwear prices decreased by 1.5%, with ready-made clothing prices edging down 3.3%. Transportation costs also went down by 1.9%, as vehicle purchase prices witnessed a 2.8% decrease. <\/p>\n

The figures came just above analysts\u2019 expectations,<\/strong> with Capital Economics having penciled in a prediction that inflation would remain unchanged at 1.9% in January, according to a note seen by EnterpriseAM. Capital Economics sees the Kingdom\u2019s headline inflation rate to hover around 2% y-o-y until 4Q, before slowing back down towards the 1% mark. Meanwhile, the IMF sees inflation holding steady at 1.9% and 2.0% this year<\/a> and the next, while the Al Rajhi Capital sees<\/a> inflation remaining stable at 2.1% in 2025 before cooling slightly to 2.0% in 2026.<\/p>\n

\n

WHOLESALE PRICE INDEX-<\/p>\n

Producer prices were up 0.9% y-o-y in January 2025,<\/strong> on the back of a 1.5% increase in the prices of other transportable goods, except metal products, machinery, and equipment, as well as a 4.6% increase in the prices of agriculture and fishery products, according to Gastat\u2019s wholesale price index (pdf)<\/a>. Meanwhile, January\u2019s wholesale prices were up 1.7% m-o-m.<\/p>\n","protected":false},"excerpt":{"rendered":"

Rent prices were the Kingdom\u2019s biggest inflation driver once again<\/p>\n","protected":false},"author":1,"featured_media":94468,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2571],"tags":[27,10,21],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-94467","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-economy","tag-enterpriseam-ksa","tag-inflation","wpautop","entry"],"acf":{"mongo_id":"5f25189a-44e0-4318-aa92-4bf77158359a","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/1488.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Inflation slightly up to 2.0% y-o-y in January","related_issue":[94462],"teaser":"Rent prices were the Kingdom\u2019s biggest inflation driver once again","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/2\/.c84c705b-a301-4278-b95f-24f570f0952c.mp3"},"yoast_head":"\nInflation slightly up to 2.0% y-o-y in January - 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