Latest news with #GASTAT
Leaders
a day ago
- Business
- Leaders
SAMA: Saudi Inflation Rate Expected to Remain Stable in Q2 2025
A recent report by the Saudi Central Bank (SAMA) showed that the Inflation rate in Saudi Arabia is expected to remain stable in the second quarter of 2025. SAMA's report noted that global economy is facing increasing challenges in 2025 due to rising geopolitical tensions and changes in trade policies. Consumer Price Index Consumer Price Index The average consumer price index in Saudi Arabia grew by 2.1% during the first quarter of 2025 compared to the same quarter in 2024. The housing, water, electricity, gas and other fuels sector recorded the highest increase of 7.4% compared to the same quarter of the previous year. Inflation Rates Inflation rates varied between the Kingdom's cities during the Q1 2025. Riyadh and Mecca reached the highest inflation rates in the first quarter of this year, at 3.6% and 3.3%, respectively. Inflation Rates Wholesale Price Index The wholesale price index in the first quarter of this year recorded an annual increase of 1.3% compared to the Q1 2024. Wholesale Price Index 2025 Q2 Anticipations Inflation rate is expected to remain stable in the second quarter of 2025 compared to the same quarter of 2024. This stability is due to various factors such as the anticipated balance between slowing global inflation and the expected impact on customs duties. 2025 Q2 Anticipations Related Topics: GASTAT: Saudi Arabia's Inflation Holds Steady at 2.2% in May 2025 Saudi Arabia's Inflation Rate Eases to 1.9% in December Rental Prices Drive Inflation in August 2024: GASTAT SAMA Officially Launches 'Samsung Pay' in Saudi Arabia Short link : Post Views: 1 Related Stories
Leaders
4 days ago
- Business
- Leaders
NWC Completes SAR 37 Million Water Project in Qilwah, Al-Baha
The National Water Company (NWC) has completed a SAR 37 million drinking water network project in Qilwah Governorate, Al-Baha Region, serving over 10,000 residents. In a press release, NWC confirmed the project was delivered on schedule and meets rising demand for water services in the area. The initiative involved installing 141,870 meters of transmission and distribution pipelines, along with a pumping station capable of supplying over 8,400 cubic meters of water daily. This project is part of NWC's broader strategy to enhance operational efficiency, improve water delivery, and ensure sustainable, high-quality water services across the Kingdom. NWC urged residents of Qilwah and surrounding areas to apply for water services via its mobile app or the e-Branch: Related Topics : NWC Collaborates with upsource by solutions to Elevate Water Distribution Sector GASTAT Reports 13.4% Growth in Non-Oil Exports in Q1 2025, 10.7% Increase in March Saudi Arabia Leads the World in Desalinated Water Production King Abdullah Gardens: Green Oasis in Desert Progresses Toward Completion Short link : Post Views: 10 Related Stories
Argaam
4 days ago
- Business
- Argaam
Prices of 100 Saudi commodities, services rise in May
The average prices of 100 out of 169 goods and services in 10 categories in Saudi Arabia turned higher year-on-year (YoY) in May, data issued by the General Authority for Statistics (GASTAT) showed. On the other hand, the prices of 64 commodities declined for the same month, while five others remained unchanged. African medium lemon was the highest gainer in May, up 34.35% YoY, followed by white American cardamom with a 28.62% YoY hike. Meanwhile, local medium potatoes was the biggest decliner, dropping by 14.8% YoY, followed by local spreadable cheese (Almarai), which tumbled by 14.6% YoY. Elsewhere, prices of 29 construction materials rose on an annual basis last month, while eight others decreased YoY. Annual prices of five feed and livestock types surged in May, while eight others contracted YoY. In the clothing category, prices of six items increased YoY, while four others retreated YoY for the same month. Prices of three miscellaneous personal services and commodities went up YoY, while one fell YoY in May. Prices of three detergent products advanced last month, compared to May 2024. Meanwhile, one item remained flat. Prices of the three health services witnessed a YoY rise in the same month. Similarly, prices of one service under the maintenance & repair of personal means of transportation grew on an annual basis. The other service under the same category, on the other hand, retreated YoY in May. Meanwhile, prices of both hotel rooms and furnished apartments soared YoY in May.
Asharq Al-Awsat
4 days ago
- Business
- Asharq Al-Awsat
Saudi Inflation Holds Steady in May as Rents Remain Key Driver
Saudi Arabia's annual inflation rate remained stable at 2.2 percent in May 2025, maintaining a pace close to the 2.3 percent recorded in April. The continued stability in prices signals a relative balance in inflationary pressures, despite ongoing increases in housing costs. This resilience comes amid global economic volatility, reflecting the effectiveness of Saudi Arabia's fiscal and monetary policies, particularly in controlling energy and rental prices. The monthly Consumer Price Index (CPI) saw a slight uptick of just 0.1 percent. According to the General Authority for Statistics (GASTAT), the annual inflation rate for May was driven primarily by rising housing-related costs. Prices in the housing, water, electricity, gas, and fuel sector increased by 6.8 percent compared to the same period last year. Food and beverage prices climbed by 1.6 percent, while personal goods and services saw a 4 percent rise. Residential rents remained the most significant contributor to inflation, continuing their upward trend and exerting substantial influence on the general index. Despite this, the Kingdom's inflation rate remains among the lowest in the G20. Commenting on the data, Dr. Abdullah Al-Jassar, a member of the Saudi Association for Energy Economics, told Asharq Al-Awsat that Saudi Arabia's inflation levels remain comparatively low on a global scale. He said the current rate reflects the flexibility and discipline of the national economy, noting that price increases have been modest and largely under control. Al-Jassar attributed this to effective government policies that have helped shield both the market and consumers from external shocks. He emphasized that the inflation observed is a result of real economic activity rather than external disruptions or internal imbalances. One of the most effective tools in curbing inflation, he said, has been the government's decision to stabilize local energy prices, even as global oil prices surged. Since fuel plays a crucial role in the production, transport, and distribution of goods and services, this policy has prevented cost increases from spilling over into other sectors such as food, construction, and housing. Al-Jassar described this approach as a 'smart policy' that successfully absorbed global inflationary shocks before they reached the end consumer. Although residential rents jumped 8.1 percent year-on-year, he noted that the rise was gradual and primarily driven by strong demand and limited supply. He also pointed out that the Saudi riyal's peg to the US dollar has helped protect the economy from imported inflation and reduce the cost of importing goods. Increased competition, tighter price monitoring, and the growing presence of e-commerce were also cited as factors contributing to market stability and limiting price manipulation across various sectors. Looking ahead, Al-Jassar suggested inflation could see a slight increase in the second half of 2025, potentially rising to between 2.5 and 3 percent. He attributed this potential uptick to seasonal factors or changes in global commodity prices. Additionally, if the US Federal Reserve moves to cut interest rates, this could lead to looser monetary policy in Saudi Arabia, boosting liquidity and consumption—factors that might put upward pressure on prices. However, he stressed that there are currently no signs of any sharp or unexpected inflationary surges. In April 2025, the inflation rate stood at 2.3 percent, also led by a 6.8 percent rise in housing and related costs. Food and beverages saw a 2.2 percent increase, while personal goods and services were up 3.5 percent. Month-on-month data showed that while May's CPI rose by just 0.1 percent, residential rents continued to rise, helping push housing-related prices up by 0.3 percent. Actual rents for residences alone increased by 0.4 percent. Food and beverages inched up by 0.1 percent, while personal goods and services rose by 0.5 percent. Tobacco prices edged up by 0.2 percent.
Economy ME
4 days ago
- Business
- Economy ME
Saudi Arabia's annual inflation rate holds steady at 2.2 percent in May 2025
Saudi Arabia's General Authority for Statistics (GASTAT) announced that the Consumer Price Index (CPI) for May 2025 revealed the Kingdom's annual inflation rate remained relatively stable at 2.2 percent compared to the same month last year. Saudi Arabia continues to record one of the lowest inflation rates among G20 countries, Saudi News Agency (SPA) reported. The CPI measures changes in the prices paid by consumers for a fixed basket of goods and services comprising 490 items. This basket was selected based on the 2018 Household Income and Expenditure Survey. Prices are collected through field visits to points of sale, and the CPI statistics are published monthly. Read more: Rising food, education costs propel Saudi Arabia inflation to 2.3 percent in March Employment figures continue to rise Saudi Arabia's non-oil private sector activity expansion slowed in April as growth in new orders decelerated sharply, even as hiring rates reached their joint-fastest pace in more than a decade. The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers' Index (PMI) slid to 55.6 in April, the lowest reading since last August, from 58.1 in March, while remaining firmly in growth territory. The slowdown in new order growth reflected global economic uncertainties and competitive pressures, with the new order subindex slipping for the third consecutive month to 58.6 in April from 63.2 in March. 'While output growth remains robust, it is somewhat tempered by global economic uncertainties and competitive pressures affecting client spending,' Naif Al-Ghaith, Riyad Bank's chief economist said. 'Nonetheless, employment figures continue to climb, indicating a sustained growth trend since last May.' The increase in employment was driven by rising sales and business activity, with firms expanding staffing capacity to meet demand. However, the degree of business optimism remained weaker than the long-run survey average, the survey showed. Saudi Arabia's economy grew 2.7 percent in the first quarter, supported by activity in the non-oil sector as the kingdom pushes ahead with diversifying away from hydrocarbons.
