FX.co ★ Saudi Wholesale Inflation Highest Since 2022

Saudi Arabia’s wholesale inflation accelerated to 5.0% year-on-year in July 2026, up from 4.8% in June, marking the fastest pace since August 2022. The increase was driven mainly by higher prices for agriculture and fishery products (6.2% vs 4.0%) and for other transportable goods excluding metal products, machinery, and equipment (9.7% vs 9.3%), with the latter supported by a sharp rise in basic chemical prices (66.7% vs 62.0%). At the same time, deflation in ores and minerals eased (-0.1% vs -0.5%).

By contrast, prices fell for food products, beverages, tobacco, and textiles (-0.6% vs +0.2%), while price growth slowed for metal products, machinery, and equipment (1.5% vs 1.6%). On a monthly basis, wholesale prices were unchanged in July, after a 0.2% increase in the previous month.