Saudi Arabia’s annual inflation rate held steady at 1.6% in August, as reported by the General Authority for Statistics (GASTAT). This consistency suggests ongoing economic stability in the Kingdom.
The Consumer Price Index (CPI) report highlights that Saudi Arabia continues to maintain one of the most stable inflation rates worldwide. This is attributed to effective economic strategies and timely policy decisions, according to the Saudi Press Agency (SPA).
GASTAT calculates the CPI by tracking price changes of a fixed basket of 490 goods and services, based on a 2018 household income and expenditure survey. Data is collected through on-site visits to various sales points.
The steady inflation rate reflects Saudi Arabia’s resilience in maintaining price stability amidst global economic challenges.