Consumer prices in Saudi Arabia increased by 2 percent in January 2025, primarily due to a rise in housing costs. Housing rents in the Kingdom rose 9.7 percent year on year, while villa rental costs increased 7.7 percent. Despite rising inflation rates globally, countries in the Middle East region have shown resilience against intensifying spending costs. In a separate report, the Kingdom's Wholesale Price Index rose by 0.9 percent in January compared to the same month of the previous year.
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Original article source: https://www.arabnews.com/node/2590407/business-economy
Source Id: 2025-02-634012589