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Saudi July CPI up 2.7% on food, increases from June

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DUBAI — Saudi Arabia’s consumer price index rose 2.7% in July from a year earlier, government data showed on Monday, increasing from a 2.3% pace in June.

The food and beverages segment rose 3.9%, mainly due to higher food prices and meat prices in particular, which rose as much as 5.1%, the General Authority for Statistics said in a statement.

“Food and beverages prices were the main driver of the inflation rate in July 2022 due to their high relative importance in the Saudi consumer basket (with a weight of 18.8%),” it said.

The Saudi CPI rose 0.5% in July from June, the month-on-month data showed. (Editing by Himani Sarkar)

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