CAIRO: The Saudi Central Bank (SAMA) predicts that the annual inflation rate in the kingdom will rise slightly in the fourth quarter of this year, Arab News quoted its latest inflation report.

SAMA cited jumps in global inflation levels and a strengthening of domestic demand as contributors to the rise in consumer prices.

On a quarterly basis; however, the country’s inflation in this year’s last quarter will be relatively stable, SAMA added.

As for the third quarter of 2021, the kingdom recorded an average yearly inflation rate of 0.4 per cent.

This was mainly the result of higher prices of transportation, as they increased 6.7 per cent on a year-on-year basis; followed by a 2.7 per cent inflation in costs of communication and a 1.8 per cent rise in prices of food and beverages.

However, the prices dropped for education and the index of housing, water, electricity, gas and other fuels, compared with the last year. Clothing and footwear prices also went down.