Monday, December 21, 2015

Housing, Water and Electricity costs rise by 4.4% in Saudi Arabia

With the price hikes around the world, the average cost of living has also risen in most of the regions across earth. Though the changes in cost of living are different from each region to the next depending on the economic condition and overall stability of the region, change or increase is constant from region to region.  Different countries try different methods to increase cost of living as little as possible and allow relief to the people or citizens of the regions or countries. Their efforts are not however always rewarding as residents of many countries have to deal with huge price hikes in the cost of living. That doesn’t seem to be the case in the Kingdom of Saudi Arabia which has kept the increases down to a minimum.

The cost of water, gas, electricity and housing as well as the other energy resources has risen by 4.4 percent in the past month of November 2015 in comparison to the same month of November in 2014. This statement has been made in accordance to a report which is issued on a monthly basis by the Central Department of Statistics and Information, which has also shown a rise amongst 11 main areas on the cost living index, which includes an increase of 5.1 percent in shoes and clothing and a rise of 5.4 percent in the education expenses. Health costs have risen by 2.5 percent, transportation has risen by 2.3 percent, household maintenance and furniture has risen by 2 percent, culture and recreation has risen by 1.9 percent, miscellaneous services and goods have risen by 1.8 percent, tobacco price has risen by 1.5 percent and beverages and food costs have risen by 0.8 percent and telecommunication costs have seen an increase of around 0.6 percent.

In the Kingdom of Saudi Arabia, the general cost of living index has risen by 0.1 percent in November, in comparison to October of the same year. This monthly report has also indicated that the index has increased from around 134.3 points in October of 2015 to 134.4 points in November of 2015. In November of 2014, the index points were at 131.4 points, hence it is indicating that a monthly increase of 0.1 percent and an accumulated 2.3 percent annually.

The report has also correlated the monthly increase in the index of cost of living index to the monthly increases in costs of around six main areas, which are shoes and clothing by 1.1 percent, miscellaneous services and goods by 0.9 percent, household maintenance and furniture by 0.5 percent, culture and recreation by 0.4 percent, health costs by 0.3 percent and housing, gas, electricity, water and other energy costs by 0.1 percent.

Four of the main areas of the cost of living index saw a decline rather than an incline. These are the areas of telecommunications by 0.6 percent, transportation by 0.2 percent, drinks and food by 0.1 percent and hotels and restaurants by 0.1 percent. The areas of education and tobacco have remained the same.

Source: Arab News

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