Annual inflation in Saudi Arabia rose to a 2015 high in September, driven by housing and utility costs, according to new data released on Thursday.
Saudi Arabia’s Central Department of Statistics said inflation reached 2.3 percent in September, its highest level this year and up 0.2 percent on August.
Prices of housing and utilities rose 3.8 percent from a year earlier in September while food and beverage prices climbed 1.9 percent, according to figures cited by Reuters.
In August, analysts raised their forecasts for this year’s economic growth in Saudi Arabia but cut predictions for next year because of the outlook for oil output.
The median forecast of 15 economists for Saudi Arabia’s gross domestic product growth this year is 3.0 percent in the latest poll, up from 2.6 percent in the previous poll, which was conducted in April.
But the forecast for Saudi growth next year has been cut to 2.6 percent from 3.0 percent.
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