RIYADH - Agencies:
The Saudi Statistics Authority announced yesterday, Thursday, that the annual inflation rate in the Kingdom reached 1.9 percent in October 2024, compared to its counterpart last year.
The Authority explained in a statement published by the Saudi Press Agency (SPA), that the inflation rate in the Kingdom is among the lowest inflation rates among the G20 countries..noting that the Consumer Price Index (CPI) reflects changes in prices paid by consumers for a fixed basket of goods and services consisting of 490 items, and this basket was selected based on the results of the Household Expenditure and Income Survey conducted in 2018.
The Authority pointed out that the relevant prices are collected through field visits to points of sale, and that the Consumer Price Index statistics in the Kingdom are published on a monthly basis.
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