Saudi Arabia's inflation rose to 3.1% in September, driven mainly by higher food prices, rents, and the rising cost of utilities, the General Authority for Statistics said on Thursday. Compared to the previous month, the Consumer Price Index (CPI) for September was marginally higher, up 0.3%, it added.

Food and beverages and transport prices were again the main drivers of inflation, both rising 4.3% in September, the General Authority for Statistics said in a statement. The sub-index was pushed higher by food and beverages prices, that rose 4.6%, in particular meat prices which jumped 6.5%. The sub-index makes up 18.8% of the consumer basket. 

Saudi Arabia’s main index ended the last session of the week in red, with investors remaining concerned about the country’s annual inflation rate. The Tadawul All Share Index dipped 1.12% to end at 11,421, while the parallel market Nomu gained 0.23% to finish at 19,769.