Saudi consumer price index increased in September 2021 by 0.6%, compared to the same month last year, according to the data of the Saudi General Authority for Statistics.<\/p>\n
According to data the released today annual inflation rose last month from 0.3% levels recorded in the previous August.<\/p>\n
The annual rise was due to an increase in food prices by 2.6%, and the rise in this section had a significant impact on the rise in inflation due to its weight in the index.<\/p>\n
The rise in the food group came under pressure from the increase in the prices of vegetables by 12.5%, then the prices of meat and poultry by 2%.<\/p>\n
The annual inflation also increased due to the increase in transportation prices by 5.9%, affected by the increase in gasoline prices by 44.9%.<\/p>\n
The communications sector also recorded an increase of 2.8%, affected by the increase in the prices of telephone and fax services by 4.2%.<\/p>\n
The report indicated that inflation was relatively stable compared to the previous month, as it rose by 0.2% per month, due to the increase in food and beverage prices by 0.7%, which in turn was affected by the increase in meat and poultry prices by 1.4%.<\/p>\n
In another context, the profits of Extra, electronics store chain, jumped to 89 million riyals in the third quarter of this year, increasing profits by 66.7% over the same quarter of last year.<\/p>\n
During the third quarter of last year, Extra Saudi profits amounted to 53.44 million riyals.<\/p>\n
Despite achieving profits on an annual basis, the company\u2019s net profit declined on a quarterly basis by 11.34%, compared to a net profit of about 100.5 million riyals in the second quarter of 2021.<\/p>\n
Extra had said in a statement on Tadawul that the increase in net profits for the third quarter of this year, on an annual basis, is due to an increase in revenues by 12.1%.<\/p>\n
This is due to the increase in retail sales, in addition to the increase in the revenues of services and the revenues of consumer finance services, which led to a growth in gross profit by 25.8% to reach 283.8 million riyals, compared to 225.6 million riyals for the same quarter of last year, Extra said.<\/p>\n