Saudi Wholesale Inflation Highest Since 2022

Saudi Arabia’s wholesale price inflation rose to 5.0% year-on-year in July 2026 from 4.8% in the previous month, the sharpest growth since August 2022. Prices increased for agriculture and fishery products (6.2% vs 4.0%) and other transportable goods, excluding metal products, machinery, and equipment (9.7% vs 9.3% in June), driven largely by higher costs for basic chemicals (66.7% vs 62.0%). At the same time, deflation slowed for ores and minerals (-0.1% vs -0.5%). In contrast, costs declined for food products, beverages, and tobacco, and textiles (-0.6% vs 0.2%), while price growth moderated for metal products, machinery, and equipment (1.5% vs 1.6%). On a monthly basis, wholesale prices recorded a flat reading in July, easing from a 0.2% rise in the preceding period.

Saudi Arabia’s annual wholesale price inflation rose to 4.8% in June 2026 from 4.6% in May, marking the highest level since August 2022. Prices for other transportable goods, excluding metal products, machinery, and equipment increased further (9.3% vs 9.1% in May), mainly driven by higher costs for basic chemicals (62.0% vs 59.0%). Prices for metal products, machinery, and equipment also went up (1.6% vs 1.5%), while inflation for agricultural and fishery products accelerated (4.0% vs 3.0%). Prices for food products, beverages and tobacco, and textiles edged up 0.2% after falling 0.1% in the previous month. Meanwhile, prices for ores and mineral products continued to decrease, albeit at a slightly slower pace (-0.5% vs -0.6%). On a monthly basis, wholesale prices increased 0.2%, easing from a 1.2% jump in May.

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.