• Saudi Arabia witnessed a slight easing in inflation to 1.6 percent in March, down from 1.8 percent in the previous month, primarily influenced by changes in the food and beverage sector. According to the latest report from the General Authority for Statistics, the Consumer Price Index in the Kingdom experienced a marginal decrease of 0.1 percent in March compared to February. This decline was notably impacted by a 0.7 percent decrease in the food and beverage sector, driven by a 0.6 percent decline in meat and poultry prices. Additionally, prices in transportation, furnishing, and home equipment sectors also experienced declines of 0.7 percent each.

• On an annual basis, Saudi Arabia's Consumer Price Index increased by 1.6 percent in March 2024 compared to the same period last year. This rise is primarily attributed to an 8.8 percent increase in housing, water, and electricity prices, alongside a 0.9 percent rise in food and beverage prices. However, prices of transportation decreased by 1.8 percent, and charges of personal goods and services decreased by 1.1 percent. Rental prices were identified as the main driver of inflation, particularly due to the increase in villa rents by 9.7 percent.