FX.co ★ Saudi Arabia Wholesale Inflation Highest Since 2022

Saudi Arabia’s annual wholesale price inflation accelerated to 4.6% in May 2026, up from 3.3% in each of the previous two months. This was the highest rate since October 2022, driven primarily by faster price increases for other transportable goods excluding metal products, machinery, and equipment (9.1% vs. 6.4% in April). Within this category, basic chemical prices surged by 59.0%, while refined petroleum product prices rose by 3.9%.

Inflation also quickened for agriculture and fishery products (3.0% vs. 1.7%), reflecting higher prices for agricultural products (2.8%) and for live animals and animal products (4.9%). In addition, costs for metal products, machinery, and equipment rose at a faster pace (1.5% vs. 1.1%).

By contrast, prices for ores and minerals continued to decline, though at a slightly slower rate (-0.6% vs. -0.3%). Food products, beverages, tobacco, and textiles moved into deflation, with prices falling 0.1% after an increase of 0.8% in the previous month.

On a monthly basis, wholesale prices rose 1.2% in May, following a 0.2% increase in April.