Riyadh: The General Authority for Statistics (GASTAT) released today the Consumer Price Index (CPI) for August 2024.

The index shows Saudi Arabia's annual inflation rate held steady at 1.6% in August 2024, indicating consistent stability over the year, and the Kingdom's robust economic resilience, with the inflation rate ranking among the most stable. It also underscores the efficacy of Saudi Arabia's economic strategies and timely decisions in addressing global inflation and price surges.

According to GASTAT, CPI measures the price of a fixed basket of 490 goods and services paid by consumers. The basket is selected based on a 2018 household income and expenditure survey, which determined the items and their respective weights. Prices are collected through on-site visits to sales points.