Saudi Arabia Wholesale Inflation Slightly Eases

Saudi Arabia’s annual wholesale price inflation accelerated to 4.6% in May 2026 from 3.3% in each of the previous two months. This marked the highest reading since October 2022, as price growth picked up mainly for other transportable goods, excluding metal products, machinery, and equipment (9.1% vs 6.4% in April), driven by a 59.0% increase in basic chemical prices and a 3.9% rise in refined petroleum product prices. Inflation also accelerated for agriculture and fishery products (3.0% vs 1.7%), reflecting higher prices for agricultural products (2.8%) and live animals and animal products (4.9%). Costs also rose faster for metal products, machinery, and equipment (1.5% vs 1.1%). Meanwhile, prices for ores and minerals continued to decline, though at a slower pace (-0.6% vs -0.3%), while food products, beverages, tobacco, and textiles slipped into deflation (-0.1% vs 0.8%). On a monthly basis, wholesale prices jumped 1.2%, following a 0.2% increase in April.

Saudi Arabia’s annual wholesale price inflation rate stood at 3.3% in April 2026, unchanged from the previous month. Price growth was steady for other transportable goods, except for metal products, machinery, and equipment at 6.4%, which matched the previous month’s pace, while inflation rose to 0.8% in food products, beverages, tobacco, and textiles after remaining flat in March. Meanwhile, costs edged lower in agriculture and fishery products (1.7% vs 1.8%) and in metal products, machinery, and equipment (1.1% vs 1.2%). In contrast, deflation persisted in ores and minerals (-0.3% vs -0.2%). On a monthly basis, prices were also unchanged at 0.2% in April.

Saudi Arabia’s annual wholesale price inflation rate edged lower to 3.3% in March 2026, from a near two-year high of 3.5% in the previous month. Cost pressures moderated for agriculture and fishery products (1.6% vs 2.5% in February), other transportable goods except metal products, machinery and equipment (6.4% vs 6.5%), and metal products, machinery and equipment (1.2% vs 1.4%). Additionally, prices were flat for food products, beverages, tobacco, and textiles after rising 0.4% in the prior month, while remaining unchanged for ores and minerals (-0.2%). On a monthly basis, wholesale prices edged up to 0.2% from 0.1% in February 2026.